Theoretical Elements Regarding the Modelling Through the Sub-Systems Combining

Ion Partachi, Alexandru Manole, Gabriela Anghelache and Oana Georgiana Nita
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Ion Partachi: Academy of Economic Studies of Moldova
Alexandru Manole: „ARTIFEX” University of Bucharest
Gabriela Anghelache: Bucharest University of Economic Studies
Oana Georgiana Nita: Bucharest University of Economic Studies

Romanian Statistical Review Supplement, 2016, vol. 64, issue 7, 103-112

Abstract: The traditional approach of the macroeconomic models development took into consideration the estimation of an equation one time and the simultaneous setting up of the results. This aspect is valid for sub-models as well. The operations were not always accompanied by the adequate checking of the procedures. The parameters of an equation may be estimated by utilizing the methods of maximum probability with limited information but the parameters of other equations would remain un-restricted. It is well-known the fact that the methods with limited information have been stronger as against the equations wrongly-specified from the system. This fact was verified mainly in the situations when there have been better information or trustful information concerning a sub-multitude of variables. Adopting the methods regarding the limited information was based on certain practical considerations, the goal consisting of the calculations simplification by eliminating the complexity typical to the methods grounded on complete information (maximum probability based on complete information).

Keywords: parameters; equation; unemployment; sub-model; sub-system (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:rsr:supplm:v:64:y:2016:i:7:p:103-112

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