THE FAN CHART: THE TECHNICAL DETAILS OF THE NEW IMPLEMENTATION

Juan Julio

No 4294, Borradores de Economia from Banco de la Republica

Abstract: Abstract. Our current implementation of the Fan Chart follows the originalBritton Fisher and Whitley [2] and Blix and Sellin [1] proposal in which theinputs enter at the fourth and ninth quarters and are distributed within theforecasting horizon according to pre established weights. This procedure doesnot allow enough °exibility to control the shape of the distribution at theshorter end of the horizon when more reliable information is available. Onthe other hand, no published material presents the details of the Fan Chartcomputation. In this note all the technical details of the new implementationare described. This implementation provides more °exibility than the previousone since it permits the inputs to be entered on a quarterly basis instead ofon a yearly basis. A Visual Basic for Excel program is available.

Keywords: Fan Chart; Forecasting Distribution; Balance of Risks. (search for similar items in EconPapers)
JEL-codes: E31 E37 E59 (search for similar items in EconPapers)
Pages: 9
Date: 2007-11-19
New Economics Papers: this item is included in nep-ecm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Working Paper: THE FAN CHART: THE TECHNICAL DETAILS OF THE NEW IMPLEMENTATION (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000094:004294

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