Evaluating a model by forecast performance
UNSPECIFIED (2005) Evaluating a model by forecast performance. OXFORD BULLETIN OF ECONOMICS AND STATISTICS, 67 (Suppl. S). pp. 931-956. ISSN 0305-9049Full text not available from this repository.
Although out-of-sample forecast performance is often deemed to be the 'gold standard' of evaluation, it is not in fact a good yardstick for evaluating models in general. The arguments are illustrated with reference to a recent paper by Carruth, Hooker and Oswald [Review of Economics and Statistics (1998), Vol. 80, pp. 621-628], who suggest that the good dynamic forecasts of their model support the efficiency-wage theory on which it is based.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions
H Social Sciences
Q Science > QA Mathematics
|Journal or Publication Title:||OXFORD BULLETIN OF ECONOMICS AND STATISTICS|
|Number of Pages:||26|
|Page Range:||pp. 931-956|
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