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

Holden, D.R. and McGregor, P.G. (1986) Forecasts from the employment block of a multi-sectoral model of the scottish economy. Papers in Regional Science, 60 (1). pp. 3-20. ISSN 1056-8190

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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.

Item type: Article
ID code: 18059
Keywords: employmeny, Scottish economy, multi-sectoral, model, Scotland, Economic Theory, Environmental Science (miscellaneous), Geography, Planning and Development
Subjects: Political Science > Political institutions (Europe) > Scotland
Social Sciences > Economic Theory
Department: Strathclyde Business School > Economics
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 27 Apr 2010 15:23
    Last modified: 05 Sep 2014 00:31
    URI: http://strathprints.strath.ac.uk/id/eprint/18059

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