Directional accuracy for inflation and unemployment rate predictions in Romania
Part of : International Journal of Business and Economic Sciences Applied Research ; Vol.7, No.2, 2014, pages 129-138
Issue:
Pages:
129-138
Author:
Abstract:
The main objective of this study is to assess the usefulness and rationality of the inflation and unemployment rate forecasts made for Romanian by three experts in forecasting: Fl, F2 and F3. All the unemployment rate forecasts over the horizon 2001-2013 provided by all experts do not provide valuable information for future decisional process. According to Pesaran-Timmermann test, the directional forecasts of F3 and the autumn expectations of F2 are useful and rational.
Subject:
Keywords:
forecasts, directional accuracy, inflation rate, unemployment rate
Notes:
JEL Classification: C52, C53, E27, E37, Περιέχει πίνακες και βιβλιογραφία
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