Selected Tests Comparing the Accuracy of Inflation Rate Forecasts Constructed by Different Methods

Agnieszka Przybylska-Mazur

Statistics in Transition new series, 2014, vol. 15, issue 2, 299-308

Abstract: The forecasts of macroeconomic variables including the forecasts of inflation rate play an important role in estimating future situation in the economy. Knowledge of effective forecasts allows making optimal business, financial and investment decisions. The forecasts of macroeconomic variables and as a result also inflation rate forecasts can be determined by different methods often giving different results. Therefore, in this paper we apply selected tests to the evaluation of the accuracy of inflation rate forecasts determined by different methods.

Keywords: forecast accuracy; parametric tests; Morgan-Granger-Newbold test; Meese-Rogoff test and Diebold-Mariano test (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:csb:stintr:v:15:y:2014:i:2:p:299-308

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