Advantages and disadvantages of existing coefficient of determination and mean absolute percentage error are examined, and two new coefficients (the compliance coefficient and the balance coefficient) giving new information about the approximation properties of econometrics models, are proposed.

This chapter provides an overview of solution and estimation techniques for dynamic stochastic general equilibrium models. We cover the foundations of numerical approximation techniques as well as statistical inference and survey the latest developments in the field.

In the modeling of traffic networks, a signalized junction is typically treated using a binary variable to model the on-and-off nature of signal operation. While accurate, the use of binary variables can cause problems when studying large networks with many intersections. Instead, the signal...

This paper provides a general framework for the quantitative analysis of stochastic dynamic models. We review the convergence properties of some numerical algorithms and available methods to bound approximation errors. We then address the convergence and accuracy properties of the simulated...

Logit models are non-linear in their explanatory variables. Derivatives with respect to the explanatory variables therefore only approximate the response to discrete changes in regressor values, yet have gained some support within the literature. This note investigates such an approximation...