Evaluation of Global modelsClive W.J. Granger, and Yongil Jeon
Department of Economics, University of California San Diego, La Jolla, CA 92093-0508, USA
School of Economics, Sungkyunkwan University, 53 Myeongnyun-dong 3ga, Jongno-gu, Seoul, 110-745, Republic of Korea
Accepted 29 March 2007. Available online 25 May 2007.
Department of Economics, University of California San Diego, La Jolla, CA 92093-0508, USA
School of Economics, Sungkyunkwan University, 53 Myeongnyun-dong 3ga, Jongno-gu, Seoul, 110-745, Republic of Korea
Accepted 29 March 2007. Available online 25 May 2007.
Abstract
Complicated and sophisticated global models are available and popularly used (but commonly without model evaluation procedures), and hence, the question of how one can evaluate a global model is worth being investigated. We discuss whether or not these global models together can be fully utilized and, if so, how this might be achieved.
Keywords: Global model; Research tools; Model evaluation; Thick modeling