Directional accuracy for inflation and unemployment rate predictions in Romania

Mihaela Simionescu

International Journal of Business and Economic Sciences Applied Research (IJBESAR), 2014, vol. 7, issue 2, 129-138

Abstract: The main objective of this study is to assess the usefulness and rationality of the inflation and unemployment rate forecasts made for Romanian by three experts in forecasting: F1, F2 and F3. All the unemployment rate forecasts over the horizon 2001-2013 provided by all experts do not provide valuable information for future decisional process. According to Pesaran-Timmermann test, the directional forecasts of F3 and the autumn expectations of F2 are useful and rational.

Keywords: forecasts; directional accuracy; inflation rate; unemployment rate (search for similar items in EconPapers)
JEL-codes: C52 C53 E27 E37 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:tei:journl:v:7:y:2014:i:2:p:129-138

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