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Fakhri J. Hasanov, Fred Joutz, Jeyhun I. Mikayilov and Muhammad Javid
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Fakhri J. Hasanov: King Abdullah Petroleum Studies and Research Center
Jeyhun I. Mikayilov: King Abdullah Petroleum Studies and Research Center
Muhammad Javid: King Abdullah Petroleum Studies and Research Center

Chapter Chapter 5 in A Macroeconometric Model for Saudi Arabia, 2023, pp 25-26 from Springer

Abstract: Abstract One of the heaviest resource-consuming tasks of KGEMM, as with all MEMs, is the collection, update, revision, and maintenance of data. In econometric modeling, data are the key elements in determining the statistical properties of relationships. In this regard, data availability plays an important role in establishing linkages between the variables in time series-based MEMs. As discussed in the literature review, MEMs are heavily data-intensive, and obtaining comprehensive results is conditional upon the accuracy and time span of the data. MEMs are also data-dependent, with data updates and revisions resulting in re-estimation of the behavioral equations.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-031-12275-0_5

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DOI: 10.1007/978-3-031-12275-0_5

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