Internalising the Externalities of Homoeconometricus: Turning Silicon Astrologers into Popperian Bookmakers
It is widely recognised that the information content of econometric forecasts would be improved if greater use was made of uncertainty measures, standard error bands etc. This paper, in a modest way, makes a contribution in this direction by outlining the Keynes-Thatcher diagnostic statistic and thus offering a solution to one of the major problems associated with econometric forecasting.
Robert Leeson, 'Internalising the Externalities of Homoeconometricus: Turning Silicon Astrologers into Popperian Bookmakers, History of Economics Review, Vol. 34, 2001.
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