 Econometric Models or Smoothing Exponential Techniques to Predict Macroeconomic Indicators in RomaniaMihaela Bratu Ekonomija Economics, 2013, vol. 19, issue 2, 255-272 Abstract: Inflation rate, unemployment rate and interest rate are some of the most important indicators used at macroeconomic level. These variables present an important interest for the central banks that establish the monetary policy (inflation target), but also for the government interested in public policies. Macroeconometric modeling offers the advantage of using more models to describe the evolution of a single variable and also the advantage of predicting it. But it is important to choose the forecast with the higher degree of accuracy. Calculating some indicators of accuracy we may know the best forecast that will be used to establish the macroeconomic policies. For the interest rate and unemployment rate in Romania VAR(2) models generated more accurate forecasts than ARMA models or models with lags. For the inflation rate the model with lag, which is consistent with Granger causality, determined the most accurate forecasts. The predictions based on all these models are better than those got using smoothing exponential techniques. Keywords: forecasts; accuracy; econometric models; smoothing exponential techniques (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eff:ekoeco:v:19:y:2013:i:2:p:255-272 Ordering information: This journal article can be ordered from Access Statistics for this article Ekonomija Economics is currently edited by Guste Santini More articles in Ekonomija Economics from Rifin d.o.o. 10000. |
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