Mean absolute percentage error and bias in economic forecasting

Name: Mean absolute percentage error and bias in economic forecasting
Creator: Jordi McKenzie
Keywords: 8. Economic growth, 0211 other engineering and technologies, 0202 electrical engineering, electronic engineering, information engineering, 02 engineering and technology

Jordi McKenzie

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Economics Lettersarrow_drop_down

Economics Letters

Article . 2011 . Peer-reviewed

License: Elsevier TDM

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https://dx.doi.org/10.1016/j.e...

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Mean absolute percentage error and bias in economic forecasting

descriptionPublicationkeyboard_double_arrow_right Article 01 Dec 2011 English Publisher:Elsevier BVJournal:Economics Letters, volume 113, pages 259-262 (issn: 0165-1765,

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Authors: Jordi McKenzie;

doi: 10.1016/j.econlet.2011.08.010

Mean absolute percentage error and bias in economic forecasting

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Abstract

Abstract This article develops a simple theoretical framework to show how forecasters may bias downward point predictions under the assumption that the asymmetric loss function is directly related to the (Mean) Absolute Percentage Error (M)APE.

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University of Sydney
Australia

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