A Grey Model Study of Forecasting Selected Turkish Macroeconomic Variables

Erdoğan Kotil, Sadık Çukur and Resul Eryiğit
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Erdoğan Kotil: Abant Izzet Baysal University
Resul Eryiğit: Abant Izzet Baysal University

Ekonomik Yaklasim, 2005, vol. 16, issue 56, 34-42

Abstract: We have applied Grey model based prediction models to predict gross national product, inflation index and annual interest rates for Turkey for the period of 1989.01-2004.12. Since Turkish economy went through two deep financial crises, the performance of prediction model for these variables in the mentioned period is a good test of forecasting ability of the models. We have found that Grey model performs much better for the more regular series, as expected for the short-term time-series prediction models.

Date: 2005
Note: [Turkish Title] Not available [Turkish Abstract] Not available [Turkish Keywords] Not available
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Persistent link: https://EconPapers.repec.org/RePEc:eyd:eyjrnl:v:16:y:2005:i:56:p:34-42

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