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Forecasting with the almost ideal demand system: Evidence from some alternative dynamic specifications

Chambers, MJ and Nowman, KB (1997) 'Forecasting with the almost ideal demand system: Evidence from some alternative dynamic specifications.' Applied Economics, 29 (7). 935 - 943. ISSN 0003-6846

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Abstract

The almost ideal demand system is used as a representation of long run demands in discrete time and continuous time error correction models to produce forecasts of budget shares beyond the sample period. The estimated models are subjected to a battery of tests, and an analysis of the forecasts indicates that continuous time adjustment mechanisms, based around fully modified estimates of the long run preference parameters, provide a remarkably accurate method of forecasting budget shares.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 03 Jul 2012 21:51
Last Modified: 28 Nov 2017 18:15
URI: http://repository.essex.ac.uk/id/eprint/2788

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