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Econometrics and Time Series Papers
Simulation Models for Business Planning and Economic Forecasting
Donald Erdman, SUGI Proceedings, 1993
Abstract
Simulation models are useful in many diverse fields. This paper illustrates the use of the SAS/ETS® MODEL procedure with examples of a business planning model and a macro econometric forecasting model. In addition, several new features of the MODEL procedure are introduced. Topics discussed include: nonlinear and simultaneous relationships; estimation of unknown model parameters; dynamic processes; goal-seeking solutions; and Monte Carlo simulation to construct confidence bounds.
