Econometric Forecasts

Jerzy Witold Wiśniewski
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Jerzy Witold Wiśniewski: Nicolaus Copernicus University, Toruń

Chapter Chapter 3 in Forecasting from Multi-equation Econometric Micromodels, 2023, pp 37-51 from Springer

Abstract: Abstract The subject of the third chapter are the basics of econometric forecasting. Basic concepts used in econometric forecasting are presented. The basic assumptions of the econometric prediction theory and the consequences they are not met are discussed. The procedure of building forecasts based on a one-equation model was characterized. The issues of admissibility of forecasts along with their measures were explained. The issues of testing the accuracy of forecasts were discussed. The specificity of building forecasts based on multi-equation models was presented—the differences in forecasting procedures based on simple, recursive models and systems of interdependent equations were indicated.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-031-27492-3_3

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DOI: 10.1007/978-3-031-27492-3_3

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