Turning-point errors and directional errors in forecasting: A note

Guy Judge

Journal of Macroeconomics, 1985, vol. 7, issue 2, 261-263

Abstract: The concepts of turning-point error and directional error as used in forecast evaluation are sometimes confused. This note seeks to clarify the distinction between the concepts using a simple example and illustrating with a prediction-realization diagram.

Date: 1985
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