Economic and Econometric Models
نویسندگان
چکیده
منابع مشابه
Control Theory and Economic Policy Optimization: The Origin, Achievements and the Fading Optimism from a Historical Standpoint
Economists were interested in economic stabilization policies as early as the 1930’s but the formal applications of stability theory from the classical control theory to economic analysis appeared in the early 1950’s when a number of control engineers actively collaborated with economists on economic stability and feedback mechanisms. The theory of optimal control resulting from the contributio...
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Structural models are models for empirical work that have parameters stable to changes in the economic environment. In structural econometric models, economic theory is used to develop mathematical statements about how a set of observable “endogenous” variables are related to another set of observable “exogenous” variables. Examples for structural modeling include demand analysis, schooling cho...
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Applying nonlinear models to estimation and forecasting economic models are now becoming more common, thanks to advances in computing technology. Artificial Neural Networks (ANN) models, which are nonlinear local optimizer models, have proven successful in forecasting economic variables. Most ANN models applied in Economics use the gradient descent method as their learning algorithm. However, t...
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The forecasts accuracy evaluation became a constant preoccupation of specialists in forecasting, because of the failure of predictions that caused the actual economic crisis. The objective of this research is to model and predict some economic variables corresponding too few macroeconomic blocks for Romanian economy. The forecast method is represented by econometric models. Moreover, the accura...
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A Model as a Simplification of Reality There is no single model of an economic system. In general, a model is a simplified approximation of reality, and there must surely be many such approximations. Therefore, we have large and small models, real and nominal models, sector and aggregative models, dynamic and static models, long-and short-run models, and so on. The model being used at any one t...
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