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.
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(Preview, pdf, 278.9KB, Terms of use)
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- Publisher copy:
- DOI: 10.1111/j.1468-0084.2005.00146.x
Authors
- Publisher:
- Blackwell Publishing
- Journal:
- Oxford Bulletin of Economics and Statistics More from this journal
- Volume:
- 67
- Issue:
- s1
- Pages:
- 931 - 956
- Publication date:
- 2005-01-01
- DOI:
- ISSN:
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0305-9049
- Language:
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English
- UUID:
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uuid:c4b4b350-5cc8-4ec7-8a90-74c0cf7bd7b2
- Local pid:
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oai:economics.ouls.ox.ac.uk:11151
- Deposit date:
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2011-08-16
- ARK identifier:
Terms of use
- Copyright date:
- 2005
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