Performance of combined double seasonal univariate time series models for forecasting water demand

Jorge Caiado ()

No 903, CEMAPRE Working Papers from Centre for Applied Mathematics and Economics (CEMAPRE), School of Economics and Management (ISEG), Technical University of Lisbon

Abstract: In this article, we examine the daily water demand forecasting performance of double seasonal univariate time series models (Holt-Winters, ARIMA and GARCH) based on multi-step ahead forecast mean squared errors. A within-week seasonal cycle and a within-year seasonal cycle are accommodated in the various model specifications to capture both seasonalities. We investigate whether combining forecasts from different methods for different origins and horizons could improve forecast accuracy. The analysis is made with daily data for water consumption in Granada, Spain.

Keywords: ARIMA; Combined forecasts; Double seasonality; Exponential Smoothing; Forecasting; GARCH; Water demand (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm, nep-ets and nep-for
Date: 2009-05
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Persistent link: http://EconPapers.repec.org/RePEc:cma:wpaper:0903

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