New coefficients of econometrics models quality estimation

Ivan Svetunkov ()
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Ivan Svetunkov: National Research University “Higher School of Economics”, Sankt-Petersburg, Russia

Applied Econometrics, 2011, vol. 24, issue 4, 85-99

Abstract: Advantages and disadvantages of existing coefficient of determination and mean absolute percentage error are examined, and two new coefficients (the compliance coefficient and the balance coefficient) giving new information about the approximation properties of econometrics models, are proposed.

Keywords: econometrics models quality estimation; approximation error; determination coefficient; complex variables; compliance coefficient; balance coefficient (search for similar items in EconPapers)
JEL-codes: C01 C52 (search for similar items in EconPapers)
Date: 2011
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