Over the last decades the tourism sector has played an increasingly important role in the socio-economic development of Portugal. We analyze data from the last fifty years from Portugal, comparing non-pandemic forecasts derived with ARIMA time series models for the triennium 2020-2022, that is,...

This paper argues that forecast estimators should minimise the loss function in a statistical, rather than deterministic, way. We introduce two new elements into the classical econometric analysis: a subjective guess on the variable to be forecasted and a probability reflecting the confidence...

Assessing the migration potential and predicting future migration streams are among the most relevant, yet least well understood topics of migration research. The usual approach taken to address aggregate-level prediction problems is to fit ad hoc specifications to historical data, and to...