Author:
Hossain Zakir,Ishaq Bhatti M.
Abstract
This paper briefly introduces the concept of model selection, reviews recent development in the area of econometric analysis of model selection and addresses some of the crucial issues that are being faced by researchers in their routine research problems. The paper emphasizes on the importance of model selection, particularly the information criteria and penalty functions based model selection procedures which are useful for economists and finance researchers.
Subject
Business, Management and Accounting (miscellaneous),Finance
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