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- W3121569083 abstract "Any research or policy analysis in economics must be consistent with the time-series properties of observed macroeconomic data. Numerous previous studies of such time series reinforce the need to specify correctly a model's multivariate stochastic structure. This paper discusses in detail the speciation of a vector error correction forecasting model that is anchored by long-run equilibrium relationships suggested by economic theory. The model includes six variables - the CPI, the implicit price deflator for GDP, real money balances (MI), the federal funds rate, the yield on long-term (10-year) government bonds, and real GDP - and four cointegrating vectors. Model forecasts during the 1990's are compared to those made by the Federal Reserve and by private forecasters." @default.
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- W3121569083 date "1998-01-01" @default.
- W3121569083 modified "2023-09-27" @default.
- W3121569083 title "A Vector Error-Correction Forecasting Model of the U.S. Economy." @default.
- W3121569083 doi "https://doi.org/10.20955/wp.1998.008" @default.
- W3121569083 hasPublicationYear "1998" @default.
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