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KGEMM Simulations

In: A Macroeconometric Model for Saudi Arabia

Author

Listed:
  • Fakhri J. Hasanov

    (King Abdullah Petroleum Studies and Research Center)

  • Frederick L. Joutz

    (King Abdullah Petroleum Studies and Research Center)

  • Jeyhun I. Mikayilov

    (King Abdullah Petroleum Studies and Research Center)

  • Muhammad Javid

    (King Abdullah Petroleum Studies and Research Center)

Abstract

As mentioned earlier, MEMs are evaluated and validated using in-sample and out-of-sample simulations, and policy analysis, among other validation methods. In this section, we run KGEMM for in-sample forecasting and out-of-sample policy analysis to evaluate its predictive ability. Hasanov and Joutz (2013) provide an overview of the literature that covers in-sample and out-of-sample forecasts and other methods for evaluating the predictive ability of MEMs. This includes Calzolari and Corsi (1977), Beenstock et al. (1986), Klein et al. (1999), Fair (1984, 1994, 2004), Bardsen and Nymoen (2008).

Suggested Citation

  • Fakhri J. Hasanov & Frederick L. Joutz & Jeyhun I. Mikayilov & Muhammad Javid, 2023. "KGEMM Simulations," SpringerBriefs in Economics, in: A Macroeconometric Model for Saudi Arabia, chapter 0, pages 85-97, Springer.
    • Handle: RePEc:spr:spbchp:978-3-031-12275-0_8
    DOI: 10.1007/978-3-031-12275-0_8
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