Directional accuracy for inflation and unemployment rate predictions in Romania
Directional accuracy for inflation and unemployment rate predictions in Romania
Author(s): Mihaela SimionescuSubject(s): Economy
Published by: Τεχνολογικό Εκπαιδευτικό Ίδρυμα Ανατολικής Μακεδονίας και Θράκης
Keywords: forecasts; directional accuracy; inflation rate; unemployment rate
Summary/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: F1, 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.
Journal: International Journal of Economic Sciences and Applied Research
- Issue Year: VII/2014
- Issue No: 2
- Page Range: 129-138
- Page Count: 10
- Language: English