Construct · 1 fields · 1 citations

error correction model: a standalone construct

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Econometrics

a time-series model in which short-run changes respond to the previous period's deviation from a long-run equilibrium.

In econometrics, error correction model refers to a time-series model in which short-run changes respond to the previous period's deviation from a long-run equilibrium. This meaning comes from Davidson (1978) in The Economic Journal.[1]

Unit
Recovery means
Measured by

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Nearby constructs

deviation4 fields · 5 citationsjingle · one word, four constructs equilibrium4 fields · 4 citationsjingle · one word, four constructs error4 fields · 8 citationsjingle · one word, four constructs

References

Davidson, J. E. H., Hendry, D. F., Srba, F., & Yeo, S. (1978). Econometric Modelling of the Aggregate Time-Series Relationship Between Consumers' Expenditure and Income in the United Kingdom. The Economic Journal, 88(352), 661. https://doi.org/10.2307/2231972

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