Economic models employ various independent variables to predict the outcome. If the model, without any adjustment beyond year dummy, is applied to the data for those exact variables and give similar outcome as the actual (allowing some statistical errors) then I’d say it’s a good model. I’d still like to know how far their predicted values from the actual values are.
Don’t probe too deeply on this paudio.... just enjoy it. We don’t get a whole lot of good news these days. LOL...