Adaptive estimation methods: their applications to modelling time varying economic systems

Abstract

Discusses recursive estimation techniques which can be used to update or revise estimates of the parameters of an economic model to account for new data. Such methods admit the possibility of proceeding with the gathering of observed data until a specified accuracy of the parameters is achieved or if the economic processes are time‐varying the parameters can be tracked. Recursive methods can also be used for adaptive learning, forecasting and control. Examines both single equation ‐ static as well as dynamic ‐ economic models.

Citation

Papakyriazis, A. (1995), "Adaptive estimation methods: their applications to modelling time varying economic systems", Kybernetes, Vol. 24 No. 8, pp. 13-31. https://doi.org/10.1108/03684929510097205