Working Paper Review: A Regional Economic Forecasting Procedure Applied to Texas
In this paper economist James G. Hoehn proposes and implements a relatively simple method for building a multivariate autoregressive forecasting model for regional economic time series. The method used is a time series approach requiring little a priori or theoretical knowledge, as in the building of structural econometric models. In this way, the method is similar to the so-called vector autoregression (VAR) models of Anderson and Kuprianov and Lupoletti. However, the way variables are chosen to be included and the way relationships are estimated involve more hypothesis tests and less prior knowledge.
Suggested citation: Hoehn, James G. “Working Paper Review: A Regional Economic Forecasting Procedure Applied to Texas,” Federal Reserve Bank of Cleveland, Economic Review, vol. 20, no. 4, pp. 38, 12.01.1984.