Title: Improving econometric forecasts by using subperiod data
Description: "The method proposed here includes two innovations which should improve the accuracy of econometric forecasting.  First, it replaces the subjective, judgmental adjustments commonly used with a more formal, objective econometric procedure.  Second, it includes a methodology for testing the usefulness of subperiod data which forecasters often inspect when choosing intercept adjustments.  A sample application to the MIT-Penn-SSRC Model demonstrates that the procedure is both feasible and potentially helpful in the context of a large macroeconometric model"--Federal Reserve Bank of Minneapolis web site.
Subjects: Economic forecasting, Econometric models