Nonparametric Estimation of Conditional Expectations for Sustainability Analyses

Juha Alho

No 24, ETLA Reports from The Research Institute of the Finnish Economy

Abstract: Abstract Optimal forecasts are, under a squared error loss, conditional expectations of the unknown future values of interest. When stochastic demographic models are used in macroeconomic analyses, it becomes important to be able to handle updated forecasts. That is, when population development turns out to differ from the expected one, the decision makers in the macroeconomic models may change their behavior. To allow for this, numerical methods have been developed that allow us to approximate how future forecasts might look like, for any given observed path. Some technical details of how this can be done in the R environment are given.

Keywords: Demography; Forecasting; Overlapping generations (search for similar items in EconPapers)
Pages: 24 pages
Date: 2014-08-25
New Economics Papers: this item is included in nep-ecm and nep-for
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Citations: View citations in EconPapers (1)

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