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Item Details
Title: EMPIRICAL MODELING IN ECONOMICS
SPECIFICATION AND EVALUATION
By: Clive W. J. Granger, Geoff Harcourt (Foreword)
Format: Hardback

List price: £86.00
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ISBN 10: 0521662087
ISBN 13: 9780521662086
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 28 August, 1999
Pages: 112
Description: Lucid account of the process of constructing and evaluating an empirical model.
Synopsis: 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.
Illustrations: 2 tables
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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