Journal article icon

Journal article

Evaluating a model by forecast performance

Abstract:
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.
Publication status:
Published
Peer review status:
Peer reviewed

Actions


Access Document


Authors


More by this author
Institution:
University of Warwick
Department:
Department of Economics
More by this author
Institution:
University of Oxford
Research group:
Econometrics
Oxford college:
Nuffield College
Department:
Social Sciences Division - Economics
Publisher:
Blackwell Publishing Publisher's website
Journal:
Oxford Bulletin of Economics and Statistics Journal website
Volume:
67
Issue:
s1
Pages:
931-956
Publication date:
2005-12-05
DOI:
ISSN:
0305-9049
URN:
uuid:0572032b-3894-4881-92ee-516164bdb98f
Local pid:
ora:1943
Language:
English
Keywords:
Subjects:

Terms of use


Metrics



If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP