On the Relationship of Optimal Memory to Steady States, Cycles, Chaos

University of Helsinki, Department of Economics from Department of Economics

Abstract: Part of conventional wisdom glaned from econometric theory and the "learning" literature is that agents ahould use all the data they have for prediction. In this paper it is shown that agents can improve their prediction by throwing away data.

Keywords: LINEAR MODELS; ECONOMETRICS (search for similar items in EconPapers)
JEL-codes: C13 C22 C53 D83 E32 E37 (search for similar items in EconPapers)
Date: 1998

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