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From Longman Business Dictionaryeconometricse‧con‧o‧met‧rics /ɪˌkɒnəˈmetrɪksɪˌkɑː-/ noun [uncountable]ECONOMICSSTATISTICS the branch of economics that uses mathematical and STATISTICAL methods to understand how economic systems work. Econometrics looks at important factors, for example interest rates, levels of employment, and government policies, and tests how changes to them could affect the economy in the futureeconometric adjective [only before a noun]They use econometric models to search for the effects of the tax-reform law on the economy in general.
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