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A Forecasting Model of Federal Purchases of Goods and Services

 

作者: Murray Brown,   Paul Taubman,  

 

期刊: Journal of the American Statistical Association  (Taylor Available online 1962)
卷期: Volume 57, issue 299  

页码: 633-647

 

ISSN:0162-1459

 

年代: 1962

 

DOI:10.1080/01621459.1962.10500552

 

出版商: Taylor & Francis Group

 

数据来源: Taylor

 

摘要:

The principal assumption underlying the model is that Presidential budget recommendations [only for goods and services] are an adequate approximation to Congressional appropriations. This implies that Federal purchases depend on the past stream of budget recommendations. It is suggested that the time shape of this past stream be represented by Koyck and/or Pascal distributed lags. Our best forecasting system, which combines Koyck and Pascal distributions, results in forecast errors of −2.03 per cent for fiscal 1960 and 1.10 per cent for fiscal 1961. We conclude that a distributed lag in budget recommendations for goods and services is extremely useful for forecasting Federal purchases.

 

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