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

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  • Agnieszka Przybylska-Mazur

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.

Suggested Citation

  • Agnieszka Przybylska-Mazur, 2014. "Selected Tests Comparing the Accuracy of Inflation Rate Forecasts Constructed by Different Methods," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 15(2), pages 299-308, March.
    • Handle: RePEc:csb:stintr:v:15:y:2014:i:2:p:299-308
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    References listed on IDEAS

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    2. Harvey, David & Leybourne, Stephen & Newbold, Paul, 1997. "Testing the equality of prediction mean squared errors," International Journal of Forecasting, Elsevier, vol. 13(2), pages 281-291, June.
    3. Diebold, Francis X & Mariano, Roberto S, 2002. "Comparing Predictive Accuracy," Journal of Business & Economic Statistics, American Statistical Association, vol. 20(1), pages 134-144, January.
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