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Board of Governors of the Federal Reserve System (U.S.)
International Finance Discussion Papers
Comments on the evaluation of policy models
Clive W. J. Granger
Melinda Deutsch
Abstract

This paper examines the evaluation of models claimed to be relevant for policy making purposes. A number of tests are proposed to determine the usefulness of such models in the policy making process. These tests are applied to three empirical examples.


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Clive W. J. Granger & Melinda Deutsch, Comments on the evaluation of policy models, Board of Governors of the Federal Reserve System (U.S.), International Finance Discussion Papers 413, 1991.
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Keywords: Econometric models ; Forecasting
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