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Is it possible to find an econometric law that works well in explanation and prediction? The case of Australian money demand |
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| Authors: | P A V B Swamy George S Tavlas |
| Abstract: | Pratt and Schlaifer's (1984, 1988) research employed in efforts to produce laws in economics are considered and their use in predicting future data is described. Data for Australia are used to illustrate the approaches. |
| Keywords: | Economic forecasting Money demand Causality Co-integration |