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The relevance of econometric models for medium- and longer-term forecasts and policy prescription (英语)

The use of highly aggregated, macroeconomic regression models for analyzing the economies of developing countries is evaluated. The need for long-term forecasting of various magnitudes in developing countries is well recognized. It is a common practice when making these forecasts to use econometric models that were originally developed for short-term forecasting of relationships in developing countries. Evaluation of the models requires consideration...
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