Evaluate the advantages and limitations of using econometric models for macroeconomic forecasting, considering factors like data availability, model design, and economic shocks.
Econometric models are highly accurate and reliable in forecasting macroeconomic variables due to their advanced mathematical structure.
Econometric models require large and accurate datasets to generate precise forecasts.
Baroque art features strong contrasts, while Rococo art prefers more subtle transitions
Baroque art is generally larger in scale than Rococo art
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