Mean absolute percentage error and bias in economic forecasting

DOI10.1016/J.ECONLET.2011.08.010zbMATH Open1239.91124OpenAlexW2085833510MaRDI QIDQ427115FDOQ427115

Authors: Jordi McKenzie 

Publication date: 13 June 2012

Published in: Economics Letters (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.econlet.2011.08.010

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zbMATH Keywords

asymmetric lossforecasting biasmean absolute percentage error

Mathematics Subject Classification ID

Applications of statistics to economics (62P20) Statistical methods; economic indices and measures (91B82)

Cited In (4)

• Chaos measure dynamics in a multifactor model for financial market predictions
• New loss reserve models with persistence effects to forecast trapezoidal losses in run-off triangles
• Percentage and relative error measures in forecast evaluation
• Biased predictors, rationality and the evaluation of forecasts

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