Medel, Carlos A.; Salgado, Sergio C. - Volkswirtschaftliche Fakultät, … - 2012
We test two questions: (i) Is the Bayesian Information Criterion (BIC) more parsimonious than Akaike Information Criterion (AIC)?, and (ii) Is BIC better than AIC for forecasting purposes? By using simulated data, we provide statistical inference of both hypotheses individually and then jointly...