Empirical Modeling in Economics
Specification and Evaluation
Format:Hardback
Publisher:Cambridge University Press
Published:28th Aug '99
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- Paperback£39.99(9780521778251)
Lucid account of the process of constructing and evaluating an empirical model.
Clive W. J. Granger is widely regarded as one of the greatest living social scientists. In this book, designed for scholars, researchers and senior undergraduates, he considers the process of constructing and evaluating an empirical model. Using case-studies from the arts and social sciences he provides a concise and entertaining account.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
ISBN: 9780521662086
Dimensions: 224mm x 146mm x 13mm
Weight: 269g
112 pages