Artikel
The Evaluation of Quarterly Forecast Intervals for Inflation Rate in Romania
The forecast uncertainty was one of the causes of the recent economic crisis and its evaluation became more necessary nowadays. The aim of this paper is to build and assess different types of forecast intervals for quarterly inflation rate in Romania. The Bootstrap Bias-corrected-accelerated (BCA) forecast intervals outperformed the intervals based on historical errors, four out of six values of inflation rate being placed in the first type of intervals during Q3:2013-Q4:2014. The likelihood ratio tests and the chi-square test indicated that there are significant differences between the ex-ante probability of 0.95 and the real probabilities for both types of forecast intervals. As a methodological novelty, Monte Carlo and bootstrap simulations were used for assessing the uncertainty in inflation rate forecasts in Romania.
- Language
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Englisch
- Bibliographic citation
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Journal: Economic Review: Journal of Economics and Business ; ISSN: 1512-8962 ; Volume: 14 ; Year: 2016 ; Issue: 1 ; Pages: 80-89 ; Tuzla: University of Tuzla, Faculty of Economics
- Classification
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Wirtschaft
General Aggregative Models: Forecasting and Simulation: Models and Applications
Forecasting Models; Simulation Methods
- Subject
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Uncertainty
Forecasts
Forecast intervals
Inflation rate
Monte Carlo
simulations
Bootstrap BCA
- Event
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Geistige Schöpfung
- (who)
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Simionescu, Mihaela
Dragan, Irina
- Event
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Veröffentlichung
- (who)
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University of Tuzla, Faculty of Economics
- (where)
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Tuzla
- (when)
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2016
- Handle
- Last update
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10.03.2025, 11:41 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Simionescu, Mihaela
- Dragan, Irina
- University of Tuzla, Faculty of Economics
Time of origin
- 2016
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