We propose a new and simple methodology to estimate the loss function associated with experts' forecasts. Under the assumption of conditional normality of the data and the forecast distribution, the asymmetry parameter of the lin-lin and linex loss function can easily be estimated using a linear...

In this paper, we model and forecast monthly budget balance expenditures. The annual dimension of budget figures is integrated with an approach based on higher frequency data. To this end we develop an econometric model (disaggregated at expenditures category level) based on behavioral equations...

We propose a new and simple methodology to estimate the loss function associated with experts' forecasts. Under the assumption of conditional normality of the data and the forecast distribution, the asymmetry parameter of the lin-lin and linex loss function can easily be estimated using a linear...

The partial privatization of the Russian energy industry with retained state regulation has made it impossible to produce targeted market models. In the paper the paths of the 2001 and 2008 reforms in the electricity and gas industries and in the associated petroleum gas market are discussed....