Time scale evaluation of economic forecasts |
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| Authors: | Antonis A Michis |
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| Institution: | Central Bank of Cyprus, 80 Kennedy Avenue, CY-1076 Nicosia, Cyprus |
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| Abstract: | A maximal overlap discrete wavelet transform is used to obtain time scale decompositions of economic forecasts and their errors. The generated time scale components can be used in loss measures and tests for comparing forecast accuracy to evaluate whether the forecasts accurately capture the cyclical features of the data. |
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| Keywords: | C53 E37 |
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