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Abstract The bootstrap, like the jack‐knife, is a technique for estimating standard errors. The idea is to use Monte Carlo simulation, based on a non‐parametric estimate of the underlying error distribution. The bootstrap will be applied to an econometric equation describing the demand for energy by industry, to determine multi‐period forecasting error and choose among competing specifications. The delta method for estimating forecast errors turns out to be too optimistic by a factor of 2.
Peters et al. (Tue,) studied this question.