Short-term Inflation Forecast Combination Analysis for Uzbekistan

α
Khumoyun Usmanaliev
Khumoyun Usmanaliev

Send Message

To: Author

Short-term Inflation Forecast Combination Analysis for Uzbekistan

Article Fingerprint

ReserarchID

426MQ

Short-term Inflation Forecast Combination Analysis for Uzbekistan Banner

AI TAKEAWAY

Connecting with the Eternal Ground
  • English
  • Afrikaans
  • Albanian
  • Amharic
  • Arabic
  • Armenian
  • Azerbaijani
  • Basque
  • Belarusian
  • Bengali
  • Bosnian
  • Bulgarian
  • Catalan
  • Cebuano
  • Chichewa
  • Chinese (Simplified)
  • Chinese (Traditional)
  • Corsican
  • Croatian
  • Czech
  • Danish
  • Dutch
  • Esperanto
  • Estonian
  • Filipino
  • Finnish
  • French
  • Frisian
  • Galician
  • Georgian
  • German
  • Greek
  • Gujarati
  • Haitian Creole
  • Hausa
  • Hawaiian
  • Hebrew
  • Hindi
  • Hmong
  • Hungarian
  • Icelandic
  • Igbo
  • Indonesian
  • Irish
  • Italian
  • Japanese
  • Javanese
  • Kannada
  • Kazakh
  • Khmer
  • Korean
  • Kurdish (Kurmanji)
  • Kyrgyz
  • Lao
  • Latin
  • Latvian
  • Lithuanian
  • Luxembourgish
  • Macedonian
  • Malagasy
  • Malay
  • Malayalam
  • Maltese
  • Maori
  • Marathi
  • Mongolian
  • Myanmar (Burmese)
  • Nepali
  • Norwegian
  • Pashto
  • Persian
  • Polish
  • Portuguese
  • Punjabi
  • Romanian
  • Russian
  • Samoan
  • Scots Gaelic
  • Serbian
  • Sesotho
  • Shona
  • Sindhi
  • Sinhala
  • Slovak
  • Slovenian
  • Somali
  • Spanish
  • Sundanese
  • Swahili
  • Swedish
  • Tajik
  • Tamil
  • Telugu
  • Thai
  • Turkish
  • Ukrainian
  • Urdu
  • Uzbek
  • Vietnamese
  • Welsh
  • Xhosa
  • Yiddish
  • Yoruba
  • Zulu

Abstract

In this paper, we produce the short-term inflation forecast for Uzbekistan, using univariate and multivariate econometric models. In particular, we use Auto Regressive Integrated Moving Average (ARIMA) model, Bayesian Vector Auto regression Model (BVAR) and Vector Error Correction model (VECM) to project CPI inflation and its decomposed subcomponents. The results of the forecast combination analysis are in line with the outcomes of the other research done in this field. The relative performance of combined forecasts based on the RMSE weighting scheme are on average 33% better for 6-month ahead. Despite some individual models demonstrate better performance in certain time horizons, the overall results reveal that forecast combination method permits to reduce the forecast error in comparison with the aforementioned models taken separately.

References

10 Cites in Article
  1. M Aiolfi,C Capistran,Timmermann (2010). Forecast Combinations.
  2. K Akdogan,S Baser,M Chadwick,D Ertug,T Hulagu,S Kosem,F Ogunc,M Ozmen,N Tekatli (2012). Short-term inflation forecasting models for Turkey and a forecast combination analysis.
  3. A Andreev (2016). Inflation forecasts based on the combination method in Bank of Russia.
  4. J Bates,C Granger (1969). The combination of forecasts.
  5. H Bjornland,A Jore,C Smith,L Thorsrud (2008). Improving and evaluating short-term forecasts at the Norges Bank.
  6. Stephen Hall,James Mitchell (2007). Combining density forecasts.
  7. R Litterman (1986). Forecasting with Bayesian vector autoregressions-five years of experience.
  8. James Stock,Mark Watson (2004). Combination forecasts of output growth in a seven‐country data set.
  9. Allan Timmermann (2006). Chapter 4 Forecast Combinations.
  10. A Tuleuov (2017). Kazakhstan.

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Khumoyun Usmanaliev. 2019. \u201cShort-term Inflation Forecast Combination Analysis for Uzbekistan\u201d. Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 19 (GJHSS Volume 19 Issue E4): .

Download Citation

Issue Cover
GJHSS Volume 19 Issue E4
Pg. 51- 57
Journal Specifications

Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

Keywords
Classification
GJHSS-E Classification: FOR Code: 140299
Version of record

v1.2

Issue date

May 17, 2019

Language
en
Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

Article Matrices
Total Views: 2908
Total Downloads: 1425
2026 Trends
Related Research

Published Article

In this paper, we produce the short-term inflation forecast for Uzbekistan, using univariate and multivariate econometric models. In particular, we use Auto Regressive Integrated Moving Average (ARIMA) model, Bayesian Vector Auto regression Model (BVAR) and Vector Error Correction model (VECM) to project CPI inflation and its decomposed subcomponents. The results of the forecast combination analysis are in line with the outcomes of the other research done in this field. The relative performance of combined forecasts based on the RMSE weighting scheme are on average 33% better for 6-month ahead. Despite some individual models demonstrate better performance in certain time horizons, the overall results reveal that forecast combination method permits to reduce the forecast error in comparison with the aforementioned models taken separately.

Our website is actively being updated, and changes may occur frequently. Please clear your browser cache if needed. For feedback or error reporting, please email [email protected]

Request Access

Please fill out the form below to request access to this research paper. Your request will be reviewed by the editorial or author team.
X

Quote and Order Details

Contact Person

Invoice Address

Notes or Comments

This is the heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

High-quality academic research articles on global topics and journals.

Short-term Inflation Forecast Combination Analysis for Uzbekistan

Khumoyun Usmanaliev
Khumoyun Usmanaliev

Research Journals