Title

A Comparison of the Michigan and Fair Models: Further Results

Document Type

Discussion Paper

Publication Date

5-1-1984

CFDP Number

704

CFDP Pages

26

Abstract

This paper examines the equation-by-equation accuracy of the Michigan and Fair model using the method in Fair (1980). Emphasis is placed on examining the possible misspecification of the equations. In an earlier study, Fair and Alexander (1984), we used the method to examine the accuracy of the complete models. In the present study we are interested in the accuracy of the individual equations when considered in isolation from the rest of the model.

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