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A simultaneous econometric model for the Dutch economy
Author(s) -
KETELLAPPER R. H.,
BOS B.,
KOOYMAN M. A.,
VOORHOEVE W.
Publication year - 1977
Publication title -
statistica neerlandica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.52
H-Index - 39
eISSN - 1467-9574
pISSN - 0039-0402
DOI - 10.1111/j.1467-9574.1977.tb00762.x
Subject(s) - econometric model , econometrics , standard error , economics , economy , computer science , macroeconomics , mathematics , statistics
This paper gives an application of standard econometric techniques in the form of a simultaneous econometric model for the Dutch economy. The model has to serve two ends: (i) it should give an adequate description of the structure of the Dutch economy, (ii) it should provide a procedure to predict the main economic variables for 1977. Our study has been based on real data. Therefore the paper begins with a report on the collection of the postwar observations on the relevant variables. Furthermore, every stage in the construction of the model and the econometric methods used will be described carefully. This will result in the presentation of the predictions for 1977, while their associated margins of error are given in terms of the estimated standard deviations of the prediction errors. The reader, who is only interested in the ultimate results, may turn to Subsection 5.3.