Applicability of time series combined models in forecasting the regional labour market indicators

VYUŽITELNOST KOMBINOVANÝCH MODELŮ ČASOVÝCH ŘAD PRO TVORBU PŘEDPOVĚDÍ UKAZATELŮ REGIONÁLNÍHO TRHU PRÁCE

Bohumil Kába and Libuše Svatošová
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Bohumil Kába: Czech University of Life Sciences Prague
Libuše Svatošová: Czech University of Life Sciences Prague

Acta Universitatis Bohemiae Meridionalis, 2007, vol. 10, issue 2, 27-34

Abstract: The paper has a methodological character. It deals with possibilities of univariate time series models use in forecasting the regional labour market indicators. The main attention is focused on methodology for combining forecasts from different individual procedures. Forecasting performances of both individual and combined models are examined on a set of real time series of indicators of South Bohemia Region. The findings of an empirical comparative analysis demonstrate that forecast accuracy can be considerably improved through the combination of two or three individual forecasts.

Keywords: time series; forecasting model; forecast accuracy; combined forecast (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:boh:actaub:v:10:y:2007:i:2:p:27-34

DOI: 10.32725/acta.2007.018

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