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This paper develops a set of time series models to provide short-term forecasts (6 to 18 months ahead) of international trade both at the global level and for selected regions. Our results compare favourably to other forecasts, notably by the International Monetary Fund, as measured by standard...
Persistent link: https://www.econbiz.de/10003315802
Common approaches to test for the economic value of directional forecasts are based on the classical Chi-square test for independence, Fisher’s exact test or the Pesaran and Timmerman (1992) test for market timing. These tests are asymptotically valid for serially independent observations....
Persistent link: https://www.econbiz.de/10003796145
Forecasting the world economy is a difficult task given the complex interrelationships within and across countries …, first, at ranking various forecasting methods in terms of forecast accuracy and, second, at checking whether methods … forecasting directly aggregate variables (direct approaches) outperform methods based on the aggregation of country …
Persistent link: https://www.econbiz.de/10003867019
between migration and fertility into a forecasting model. Next to the detailed and stochastic quantification of age …
Persistent link: https://www.econbiz.de/10011722114
In 2016 the Central Bank of Argentina began to announce inflation targets. In this context, providing authorities with good estimates of relevant macroeconomic variables is crucial for making pertinent corrections in order to reach the desired policy goals. This paper develops a group of models...
Persistent link: https://www.econbiz.de/10011882797
agreed. In short, forecasting inflation is of foremost importance to households, businesses, and policymakers. In 2016, the …
Persistent link: https://www.econbiz.de/10011880436
of country-specific determinants. This paper shows empirically the superiority of direct forecasting methods, in which …
Persistent link: https://www.econbiz.de/10011604928
Forecasting the world economy is a difficult task given the complex interrelationships within and across countries …, first, at ranking various forecasting methods in terms of forecast accuracy and, second, at checking whether methods … forecasting di- rectly aggregate variables (direct approaches)out-perform methods based on the aggregation of country- specific …
Persistent link: https://www.econbiz.de/10011605105
Common approaches to test for the economic value of directional forecasts are based on the classical Chi-square test for independence, Fisher’s exact test or the Pesaran and Timmerman (1992) test for market timing. These tests are asymptotically valid for serially independent observations....
Persistent link: https://www.econbiz.de/10010271838
We propose a general class of Markov-switching-ARFIMA processes in order to combine strands of long memory and Markov-switching literature. Although the coverage of this class of models is broad, we show that these models can be easily estimated with the DLV algorithm proposed. This algorithm...
Persistent link: https://www.econbiz.de/10003633683