Forecasts from the employment block of a multi-sectoral model of the scottish economy

D.R. Holden, P.G. McGregor

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

This paper considers the determination of employment in four Scottish industries. The specifications considered are classified as either Keynesian or neoclassical in nature by reference to the relevant economic theory. The statistical assessment of an estimated equation involves the calculation of a number of diagnostic test statistics which assess, amongst other things, the accuracy of the forecasts produced by the equation. To distinguish between alternative estimated equations we employ non-nested (or separate) test procedures. The results obtained suggest Keynesian type specifications are superior for three of the four industries considered.
LanguageEnglish
Pages3-20
Number of pages17
JournalPapers in Regional Science
Volume60
Issue number1
DOIs
Publication statusPublished - 1986

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economy
industry
economic theory
diagnostic
statistics
forecast
test
calculation

Keywords

  • employmeny
  • Scottish economy
  • multi-sectoral
  • model

Cite this

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Forecasts from the employment block of a multi-sectoral model of the scottish economy. / Holden, D.R.; McGregor, P.G.

In: Papers in Regional Science, Vol. 60, No. 1, 1986, p. 3-20.

Research output: Contribution to journalArticle

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