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"'I'd Rather Have Bob Solow Than an Econometric Model, But..
In 1966, he developed the first econometric model of China.
No econometric model would say that time span would make that much of a difference.
They built a customer churn econometric model in which search was responsible for 65% of churn.
"I was building an econometric model of commercial real estate in Midtown Manhattan and I needed data," he said.
"Amazingly," Mr. Barbera says, "most Americans have a very sophisticated econometric model, and they figured this out all by themselves".
Data analysis employed the Heckman two-steps econometric model.
The production function is simulated in a small econometric model.
To eliminate this bias, we incorporate the compromise effect directly into our econometric model.
Much of the recent dynamics of the economy are not captured in Keynes's theory, in Fair's Model, or in any conventional econometric model.
"Forecasts of econometric model builders have been no more accurate than the forecasts of those who analyze business conditions using less formal methods," he wrote.
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