Large-scale macroeconometric model
FORECASTING MODELS BASED ON ECONOMIC DATA INCLUDING NATIONAL INCOME AND PRODUCT ACCOUNTING DATA
Large scale macro model
Following the development of Keynesian economics, applied economics began developing forecasting models based on economic data including national income and product accounting data. In contrast with typical textbook models, these large-scale macroeconometric models used large amounts of data and based forecasts on past correlations instead of theoretical relations.