2 edition of **Econometric models for basic economic and social plan, 1973-1977** found in the catalog.

Econometric models for basic economic and social plan, 1973-1977

Keizai Shingikai (Japan). KeiryoМ„ Iinkai.

- 56 Want to read
- 26 Currently reading

Published
**1973**
by Economic Planning Agency in [Tokyo]
.

Written in English

- Japan,
- Japan.
- Input-output tables -- Japan.,
- Japan -- Economic conditions -- 1945-1989 -- Econometric models.

**Edition Notes**

Issued also in Japanese under title: Keiryō Iinkai dai 4-ji hōkoku.

Statement | by the Committee on Econometric Methods. |

Classifications | |
---|---|

LC Classifications | HC462.9 .K44314 1973 |

The Physical Object | |

Pagination | 182 p. : |

Number of Pages | 182 |

ID Numbers | |

Open Library | OL4610939M |

LC Control Number | 77374656 |

In econometrics, the regression model is a common starting point of an analysis. As you define your regression model, you need to consider several elements: Economic theory, intuition, and common sense should all motivate your regression model. The most common regression estimation technique, ordinary least squares (OLS), obtains the best estimates of your model . Three Basic Components of Forecasting Models 1. Deterministic terms like intercepts, trends, seasonal factors, or other factors with known values, 2. Observed stochastic variables which the model attempts to characterize and have unknown future values, and 3. Past, present, and future innovations. • Each component is vulnerable to many types of.

Econometrics is the application of statistical and mathematical models to economic data for the purpose of testing theories, hypotheses, and future trends. The purpose of this course is to help you become comfortable and creative as empirical economic researchers. We will therefore introduce a series of econometric techniques and models by observing life in the trenches, i.e., working through how practitioners have approached econometric problems and built.

Economic models have two functions: 1) to simplify and abstract from observed data, and 2) to serve as a means of selection of data based on a paradigm of econometric study. Creating a model has two basic steps: 1) generate the model, and 2) checking the model for accuracy – also known as diagnostics. Econometric analysis has refuted some assumptions in cost theory. Work in the field of cost functions, for example, originally tested the theory that marginal cost—the addition to total cost resulting from an increase in output—first declines as production expands but ultimately begins to rise. Econometric studies, however, indicate that marginal cost tends to remain more or less .

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