Forecasting from multi-equation econometric micromodels / Jerzy Witold Wi?niewski.

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Forecasting from multi-equation econometric micromodels / Jerzy Witold Wi?niewski.

9783031274923 electronic book
303127492X electronic book
9783031274916
3031274911

Cham, Switzerland : Springer, [2023]

English

1 online resource (viii, 148 pages) : illustrations (some color).

10.1007/978-3-031-27492-3 doi

HB139 .W57 2023

330.01/5195

Forecasting from multi-equation models has very rarely been the focus in econometric literature. In response, this book presents a range of methodologies to approach this complex field and offers readers essential information on forecasting from multi-equation econometric micromodels. In the twentieth century, significant interest in econometric macromodels emerged. These multi-equation models are mostly systems of interdependent equations, most often used to describe the national economies of various countries. The book analyzes econometric forecasting procedures and illustrates them with empirical examples that are based on real economic (mostly business-derived) data. The procedure of forecast building from systems of interdependent equations is presented for two categories of econometric models: models with a feedback effect and models with closed-loop links between interdependent variables. The forecasts obtained via this technique are compared with the results derived from reduced-form equations of the respective econometric model. The author also generalizes the rules of the reduced-recursive (helical, iterative) procedure application, against the backdrop of the proposed method of forecast building from reduced-form equations of systems of interdependent equations. Given its scope, the book will appeal not only to PhD students and researchers, but also undergraduate students and academics in general.

Includes bibliographical references.

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Description based on online resource; title from digital title page (viewed on June 22, 2023).

Contributions to economics.

Print version: 9783031274916

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