| 单词 | econometrics |
| 释义 | econometrics The application of statistical methods to economics. In econometrics a model of some aspect of the economy is set up, stated in mathematical terms. This model is compared with the available statistical facts about the economy; the model and the facts will invariably fail to match precisely. Econometrics uses statistical tests to tackle various questions, including: How well or badly does the model fit the observed facts? Does any other available model fit them any better? In any model, how large is the estimate of the effects of one variable on any other, and how reliable is the estimate? How far into the future, and with what degree of reliability, can the model predict any variable of interest? Econometrics is hampered by the fact that the relevant statistics may be unavailable, or wrongly recorded, and that variables of interest in many models, for example expectations, are not directly observable. |
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