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Open Access research with a European policy impact...

The Strathprints institutional repository is a digital archive of University of Strathclyde's Open Access research outputs. Strathprints provides access to thousands of Open Access research papers by Strathclyde researchers, including by researchers from the European Policies Research Centre (EPRC).

EPRC is a leading institute in Europe for comparative research on public policy, with a particular focus on regional development policies. Spanning 30 European countries, EPRC research programmes have a strong emphasis on applied research and knowledge exchange, including the provision of policy advice to EU institutions and national and sub-national government authorities throughout Europe.

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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.