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Strategies to Improve the Accuracy of SPF Inflation Rate Forescasts of USA

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  • Mihaela, Bratu

Abstract

In this study, some strategies of improving the forecasts accuracy were tested for the USA quarterly inflation rate. The classical filters and Holt Winters technique were applied for one-step-ahead forecasts on a horizon of four quarters from 1975 to 2011. Combined forecasts were made using the original SPF values and the new predictions based on filters and Holt Winters method. Some conclusions are valid for all the years for which forecasts are provided: combined predictions based on classical schemes (optimal, inverse weighted and equally weighted scheme) and the smoothed SPF forecasts using Holt Winters technique are two strategies of improving the accuracy of SPF expectations. However, the last one is the best, one reason being that the future evolution of inflation in USA is determined by recent values.

Suggested Citation

  • Mihaela, Bratu, 2013. "Strategies to Improve the Accuracy of SPF Inflation Rate Forescasts of USA," Ekonomika, Journal for Economic Theory and Practice and Social Issues, Society of Economists Ekonomika, Nis, Serbia, vol. 59(1), March.
    • Handle: RePEc:ags:sereko:288638
    DOI: 10.22004/ag.econ.288638
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    Cited by:

    1. Mihaela Bratu, 2013. "New Methods of Evaluating the Forecasts Accuracy: A Case Study for USA Inflation," Business and Economic Research, Macrothink Institute, vol. 3(1), pages 21-37, June.

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    Keywords

    Risk and Uncertainty;

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