The Construction and Assessment of Forecast    Intervals for Monthly Inflation Rate Cover Image

The Construction and Assessment of Forecast Intervals for Monthly Inflation Rate
The Construction and Assessment of Forecast Intervals for Monthly Inflation Rate

Author(s): Mihaela Simionescu, Adrian Cantemir Călin, Oana Cristina Popovici
Subject(s): Economy
Published by: Editura Universității Aurel Vlaicu
Keywords: inflation rate; forecast interval; autoregressive model; historical errors method

Summary/Abstract: In this research forecast intervals were built for monthly inflation rate during 2014 using an autoregressive model and the historical errors technique. For the first 7 months of 2014 all the actual values of the inflation rate are included in the forecast intervals. However, the historical errors method provided better results, because the intervals’ length is smaller. Therefore, there is a high probability for this method to provide the best prediction intervals for the next 5 months of 2014

  • Issue Year: 20/2014
  • Issue No: 2
  • Page Range: 34-40
  • Page Count: 7
  • Language: English