{"product_id":"forecasting-economic-time-series-book-michael-clements-9780521634809","title":"Forecasting Economic Time Series","description":"This book provides a formal analysis of the models, procedures, and measures of economic forecasting with a view to improving forecasting practice. David Hendry and Michael Clements base the analyses on assumptions pertinent to the economies to be forecast, viz. a non-constant, evolving economic system, and econometric models whose form and structure are unknown a priori. The authors find that conclusions which can be established formally for constant-parameter stationary processes and correctly-specified models often do not hold when unrealistic assumptions are relaxed. Despite the difficulty of proceeding formally when models are mis-specified in unknown ways for non-stationary processes that are subject to structural breaks, Hendry and Clements show that significant insights can be gleaned. For example, a formal taxonomy of forecasting errors can be developed, the role of causal information clarified, intercept corrections re-established as a method for achieving robustness against forms of structural change, and measures of forecast accuracy re-interpreted.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49570944942353,"sku":"GOR005265258","price":23.49,"currency_code":"AUD","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":50355097174289,"sku":"CIN0521634806G","price":0.0,"currency_code":"AUD","in_stock":false},{"title":"US \/ NEW \/ INGRAM","offer_id":51003175469329,"sku":"NIN9780521634809","price":0.0,"currency_code":"AUD","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52144165191953,"sku":"NLS9780521634809","price":120.99,"currency_code":"AUD","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":52631634542865,"sku":"CIN0521634806VG","price":0.0,"currency_code":"AUD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0521634806.jpg?v=1751292734","url":"https:\/\/www.worldofbooks.com\/en-au\/products\/forecasting-economic-time-series-book-michael-clements-9780521634809","provider":"World of Books ","version":"1.0","type":"link"}