Stochastic simulation as a validation tool for econometric models

Giorgio Calzolari and Paolo Corsi

MPRA Paper from University Library of Munich, Germany

Abstract: The complete validation of an econometric model is a process which involves a formidable number of activities in the various steps of model building, like economic structure specification, test of hypothesis and parameter estimation, simulation behaviour and decision making. Our attention will be mainly focussed on some aspects related to simulation and decision making; in particular, the purpose of this paper is to analyze some problems of the validation process for which stochastic simulation can be profitably used.

Keywords: Econometric models; nonlinear simultaneous equations; stochastic simulation (search for similar items in EconPapers)
JEL-codes: C15 C52 (search for similar items in EconPapers)
Date: 1977-09-15
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published in Models for regional planning and policy-making: proceedings of the joint IBM/IIASA conference (1977): pp. 359-369

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/21226/1/MPRA_paper_21226.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21226

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().