Kicking the tires on chases econometric model

Abstract

Critics of planning frequently complain that the profession fails to read the near‐term or long‐term future correctly. Does the answer lie in better econometric modeling? Some planners have been “sold” econometrics as the best available crystal ball for predicting the trends of tomorrow and the next decade. To discover how this science is adapting to real‐world needs and how it views the economy—past, passing, and to come—Planning Review spoke with Chase Econo‐metrics' long‐range forecasting specialist, Edward A. Friedman. His message is that better econometric models are only part of the solution. It is equally important to be able to judge the models and their predictions for what they actually can offer and what they cannot.

Citation

Wallace, A. (1984), "Kicking the tires on chases econometric model", Planning Review, Vol. 12 No. 1, pp. 8-11. https://doi.org/10.1108/eb054042