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Empirical Modeling in Economics : Specification and Evaluation - Clive W. J. Granger

Empirical Modeling in Economics

Specification and Evaluation

By: Clive W. J. Granger, Geoff Harcourt (Foreword by)

Paperback

Published: 25th October 1999
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  • Hardcover View Product Published: 28th August 1999
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In these three essays, Professor Granger explains the process of constructing and evaluating an empirical model. Drawing on a wide range of cases and vignettes from economics, finance, politics and environment economics, as well as from art, literature, and the entertainment industry, Professor Granger combines rigour with intuition to provide a unique and entertaining insight into one of the most important subjects in modern economics. Chapter 1 deals with Specification. The process of specifying a model is discussed using deforestation in the Amazon region of Brazil as an illustration. Chapter 2 considers Evaluation, and argues that insufficent evaluation is undertaken by economists, and that models should be evaluated in terms of the quality of their output. In Chapter 3, the question of how to evaluate forecasts is considered at several levels of increasing depth and using a more sophisticated, technical approach than in the earlier two chapters.

'Wide ranging in scope [these essays] condense a large amount of material into a short book ... they contain a lot of wisdeom and illuminating insights.' The Times Higher Education Supplement

Foreword
The specification of empirical models
The evaluation of empirical models
Comments on the evaluation of econometric models and of forecasts
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521778251
ISBN-10: 0521778255
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 112
Published: 25th October 1999
Publisher: CAMBRIDGE UNIV PR
Country of Publication: GB
Dimensions (cm): 21.44 x 13.69  x 0.58
Weight (kg): 0.16