Some of the common econometric models are:
- Linear regression.
- Generalized linear models.
- Probit.
- Logit.
- Tobit.
- ARIMA.
- Vector Autoregression.
- Cointegration.
What makes a good econometric model?
This chapter introduces seven key properties, whether they already be widely accepted or have yet to be accepted at all, that a good economic model should possess: 1) parsimony, 2) tractability, 3) conceptual insightfulness, 4) generalizability, 5) falsifiability, 6) empirical consistency, and 7) predictive precision.
How do you do an econometric model?
Steps in Carrying Out an Empirical Study
- Selection of a Hypothesis or an Observed Phenomenon. ...
- Establishing the Objectives of the Study. ...
- Developing an Economic Model. ...
- Developing an Econometric Model. ...
- Estimating the Values of Coefficients. ...
- Data Analysis and Validation.
