Comparing Predictive Accuracy

Francis Diebold and Roberto Mariano

No 169, NBER Technical Working Papers from National Bureau of Economic Research, Inc

Abstract: Using research designs patterned after randomized experiments, many recent economic studies examine outcome measures for treatment groups and comparison groups that are not randomly assigned. By using variation in explanatory variables generated by changes in state laws, government draft mechanisms, or other means, these studies obtain variation that is readily examined and is plausibly exogenous. This paper describes the advantages of these studies and suggests how they can be improved. It also provides aids in judging the validity of inferences they draw. Design complications such as multiple treatment and comparison groups and multiple pre- or post-intervention observations are advocated.

JEL-codes: C1 C53 (search for similar items in EconPapers)
Date: 1994-11
Note: EFG
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Citations: View citations in EconPapers (30)

Published as Journal of Business and Economic Statistics (1995), vol. 13, pp. 253-265.

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Journal Article: Comparing Predictive Accuracy (2002)
Journal Article: Comparing Predictive Accuracy (1995)
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