forecasting. To further improve the forecasting, we modify our calibration approach by increasing the trader information set …

forecasting. To further improve the forecasting, we modify our calibration approach by increasing the trader information set …

The article discusses processes of validating structural forecasting models It summarizes methods of evaluating the … goodness of fit of model Simulations over historical periods and methods of comparing the forecasting behavior of structural … models with that of Simple time series models The net trade model provides a case study for these two validation processes …

forecasting. To further improve the forecasting, we modify our calibration approach by increasing the trader information set …

contexts, but success and acceptance require a convincing model validation. In general, model validation is understood to be a … comparison. This paper gives a statistical framework for the problem of model validation that is quite analogous to calibration …