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On a measure of lack of fit in time series models

1978/08/01 by G. M. LJUNG, Greta M. Ljung, G. E. P. BOX +1 · 72 citations
Economics, Econometrics and Finance · #Monetary Policy and Economic Impact

paper · doi:10.1093/biomet/65.2.297

Abstract

The overall test for lack of fit in autoregressive-moving average models proposed by Box & Pierce (1970) is considered. It is shown that a substantially improved approximation results from a simple modification of this test. Some consideration is given to the power of such tests and their robustness when the innovations are nonnormal. Similar modifications in the overall tests used for transfer function-noise models are proposed

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