Stochastic Experiments with an Econometric Model

  • M. Píšek


The paper deals with the following experiments which have been carried out with a long-range forecasting econometric model of the Czechoslovak economy:(1) The evaluation of the goodness of fit of prediction and actual development;(2) the influence of the replacement of the lagged endogenous variables by their actual values;(3) the exploration of stochastic properties of the selected ratio indicators.


Econometric Model Busy Period Individual Sector Stochastic Property Planning Organisation 
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    Adamec and Fundarek, “A Long-Term Prognostic Model of the Economy of CSSR (in Czech)” Research Computer Centre, Bratislava (1972).Google Scholar
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    H. Theil, Economic Forecasts and Policy (Amsterdam North-Holland Publishing Co., 1961).Google Scholar
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    T. H. Naylor, Computer Simulation Experiments with Models of Economic Systems (New York, J. Wiley, 1971).Google Scholar
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    M. G. Kendall and A. Stuart, The Advanced Theory of Statistics 1 (London, Charles Griffin, 1963).Google Scholar

Copyright information

© The World Organisation of General Systems and Cybernetics 1978

Authors and Affiliations

  • M. Píšek
    • 1
  1. 1.Economics Dept.C.S.R. Academy of SciencesPrahaCzechoslovakia

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