Mean absolute percentage error and bias in economic forecasting

DOI10.1016/J.ECONLET.2011.08.010MaRDI QIDQ427115zbMATH OpenOpenAlexFDO

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

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)

Recommendations

• Percentage and relative error measures in forecast evaluation
• A note on minimizing absolute percentage error in combined forecasts
• Optimal error predictors for economic models
• Improved estimates and forecasts of error correction models in economics
• Improved estimates and forecasts of error correction models in economics
• A panel data approach to economic forecasting: the bias-corrected average forecast
• Approximate bias correction in econometrics

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

This page was built for publication: Mean absolute percentage error and bias in economic forecasting

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q427115)