However, it is also possible to use econometric models that are not tied to any specific economic theory.
Do we know the econometric models of the country are correct, for example?
I do not love econometric models that much; I just take note of them.
No econometric model can forecast a winner in that fight.
This type of structure is common in econometric models.
That said, econometric models remain the most rigorous statements of what is known about how the pieces fit together.
The model is quite simple, especially when compared with many econometric models.
"Some firms use an econometric model, while others go by gut feeling."
In addition, econometric models are now published in the working paper series.
These numbers, generated by an econometric model, are not to be taken literally.