TY  - JOUR
AB  - Economic models enjoy growing use and importance. An environment characterized by rapid change and the interplay of a host of variables prompts increased use of and reliance on models. For example, one might want to predict the effect of a change in interest rates on housing starts. On the other hand, a company might desire to predict demand levels for specific building products given reported housing starts. Others may have an interest in a better understanding of how humans behave in response to a change in variables in the environment. The first paper in a two paper series, provides a perspective and guidelines useful to the professional who may have to make decisions about economic models such as the usefulness of models, the important issues to consider when developing a model, the appropriateness of an existing model and interpretation of model output. Provides guidelines for the development and use of models.
VL  - 7
IS  - 2
SN  - 0958-868X
DO  - 10.1108/09588689610119739
UR  - https://doi.org/10.1108/09588689610119739
AU  - Baumann Mark W.
AU  - Groth John C.
PY  - 1996
Y1  - 1996/01/01
TI  - Economic models: perspectives for the professional
T2  - Journal of Property Finance
PB  - MCB UP Ltd
SP  - 45
EP  - 57
Y2  - 2024/09/19
ER  -