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Statistics, econometrics, and forecasting
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ISBN: 052183287X 0521540445 051118588X 0511185057 0511327056 0511493185 1280457775 0511187726 0511186797 1107148960 9780511185052 9780511187728 9780511186790 0511189567 9780511189562 9780511185885 9780521832878 9780521540445 9780511493188 9786610457779 6610457778 9781107148963 9781280457777 9780511327056 Year: 2004 Publisher: Cambridge, UK New York Cambridge University Press

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Abstract

Based on two lectures presented as part of The Stone Lectures in Economics series, Arnold Zellner describes the structural econometric time series analysis (SEMTSA) approach to statistical and econometric modeling. Developed by Zellner and Franz Palm, the SEMTSA approach produces an understanding of the relationship of univariate and multivariate time series forecasting models and dynamic, time series structural econometric models. As scientists and decision-makers in industry and government world-wide adopt the Bayesian approach to scientific inference, decision-making and forecasting, Zellner offers an in-depth analysis and appreciation of this important paradigm shift. Finally Zellner discusses the alternative approaches to model building and looks at how the use and development of the SEMTSA approach has led to the production of a Marshallian Macroeconomic Model that will prove valuable to many. Written by one of the foremost practitioners of econometrics, this book will have wide academic and professional appeal.

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