Personally, I prefer distinction between prediction and simulation (instead of assessment) to be discussed. When predicting, you are estimating value of any dependent variable based on independent variable of time included in an econometric model. Thus, we are looking for the future. When simulating, independent value might be any, but different than time. Hence, we are looking for different conditions. Assessing is completely different category than predicting or simulating. You can for example assess statistical significance of impact of particular determinants on dependent variable or assess adjusting the model to the observed volatility of dependent variable.
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