Poor air quality is becoming a critical environmental concern in different countries over the last several years. Most of the air pollutants have serious consequences on human health and wellbeing. In this context, efficient forecasting of air pollutants is currently crucial to predict future...

Combined cycle power plants, which combine gas and steam turbines, have an adverse impact on surrounding populations and structures. Input data can be fine-tuned to reduce this effect. If the parameters that affect the NOx (NOx = NO2 + NO) value measured as an output are properly determined, the...

Modelling and forecasting electricity consumption (EC) help industry managers make better strategic decisions. In this study, a hybrid approach for predicting EC is proposed which first EC is decomposed into approximate and detail parts based on wavelet transfer (WT). Next, the modeling of...

Accurate short-term solar forecasting is challenging due to weather uncertainties associated with cloud movements. Typically, a solar station has a single prediction model irrespective of the time and the cloud condition, which often results in sub-optimal performance. In the proposed model,...

The quantile regression neural network ( QRNN ) has shown high potential for predicting the mechanical properties of the alloy. The QRNN model and the regression model were developed to predict the mechanical properties of the low-pressure cast aluminum alloy ZL702A using the mechanical...

We develop a novel methodology to quantify forecasts based on qualitative survey data. The methodology is generally applicable when quantitative information is available on the realization of the forecasted variable, for example from firm balance sheets. The method can be applied to a wide range...

A simple criterion based on the properties of the forecast error is presented to evaluate the accuracy of forecasts. The efficiency conditions of an optimization problem are used to show that under rational expectations the standard statistical conditions are necessary, but not sufficient to...

This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...

This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...