Abstract
Econometric models are widely used to forecast economic events. A number of macroeconometric models are well known, including those of the Wharton School, Chase Econometrics, Data Resources, Inc., and the Federal Reserve Bank of St. Louis. Less imposing models are cropping up in all walks of life. The Insurance Services Office (ISO) is studying the application of econometric models to actuarial problems. Because of the effect these models have on our lives through government planning, and because of the possible effect they may have on our livelihoods if they become standard actuarial tools, it is wise for us to understand what econometric models are, why they are increasingly popular, and why they may be only a precursor of even more dramatic changes to come.
Econometric Modeling/Regulation
Volume
May
Page
650-680
Year
1980
Categories
Financial and Statistical Methods
Asset and Econometric Modeling
Actuarial Applications and Methodologies
Regulation and Law
Financial and Statistical Methods
Statistical Models and Methods
Publications
Casualty Actuarial Society Discussion Paper Program
