Evaluation of economic forecasts for Austria

Combining Economic Forecasts

Are Economic Forecasts Rational?

Economic Criteria for Evaluating Commodity Price Forecasts

Forecasts of economic time series are often evaluated according to their accuracy as measured by either quantitativeprecision or qualitative reliability. We argue that consumers purchase forecasts for the potentialutility gains from utilizing them, not for theiraccuracy. Using Monte Carlo techniques to incorporate the temporal heteroskedasticity inherent in asset returns,the expected utility of...

Economic burden of osteoporotic fractures in Austria

OBJECTIVE Osteoporotic fractures impose a huge economic burden on society. Though several cost of illness studies from other countries exist, no equivalent study has been conducted in Austria. Our study aims at assessing costs resulting from osteoporotic fractures in Austria in the year 2008 from a societal perspective. METHODS We took both direct and indirect costs into consideration. Direct...

Statistical evaluation of forecasts.

Reliable forecasts of extreme but rare events, such as earthquakes, financial crashes, and epileptic seizures, would render interventions and precautions possible. Therefore, forecasting methods have been developed which intend to raise an alarm if an extreme event is about to occur. In order to statistically validate the performance of a prediction system, it must be compared to the performanc...