Arthur, Daniel J. W. - In: Feedback economics : economic modeling with system dynamics, (pp. 163-189). 2021
System dynamics and econometrics have traditionally been seen as contrasting and sometimes conflicting approaches for … through optimisation, whereas simulation as an estimation procedure is much less common in econometrics . A comparison of … economic modelling, which may lead to overspecified models from an econometrics perspective, where the typical criterion is …