Abstract
Tests were undertaken of how well the GDP, consumption, and investment models described conditions during the decade after the models had been developed. As a percent of GDP, the average error of estimate was 0.5% for GDP and consumption, 1.5% for exports, and 3.4% for investment.
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References
Eckstein, O. (1983). The DRI Model of the U.S. Economy. New York: McGraw-Hill Book Company.
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Heim, J.J. (2017). Capacity Of The Model To Explain Behavior Of The Macroeconomy Beyond The Period Used To Estimate The Model. In: An Econometric Model of the US Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-50681-4_16
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DOI: https://doi.org/10.1007/978-3-319-50681-4_16
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-50680-7
Online ISBN: 978-3-319-50681-4
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