Unpredictability in economic analysis, econometric modelling and forecasting

Unpredictability arises from intrinsic stochastic variation, unexpected instances of outliers, and unanticipated extrinsic shifts of distributions. We analyze their properties, relationships, and different effects on the three arenas in the title, which suggests considering three associated informa...

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Bibliographic Details
Main Author: Hendry, D
Format: Working paper
Published: University of Oxford 2011