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Each year the Federal Reserve Bank of Richmond compiles forecasts of the economy's performance in the coming year. This year the principal forecasting problem has been the extent and duration of the petroleum embargo
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. This paper proposes a number of approaches to forecast short-term changes in selected world economic variables and aims …, first, at ranking various forecasting methods in terms of forecast accuracy and, second, at checking whether methods … direct forecasts at the aggregate levels (top-down approaches), the forecast accuracy is neither improved nor deteriorated (i …
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to do something about it, and find a forecast process which produced results which actually aided insight and were … genuinely useful - in contrast to many forecast exercises which seem to be driven by political or `messaging' considerations and …
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Forecasting approaches are used to predict future values of certain variables such as market demands, prices, supplies, weather temperatures, economic factors, social factors, medica related factors, population, productivity, quality, and reliability of systems. While it is almost impossible to...
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