Time Series Forecasts via Wavelets: an Application to Car Sales in the Spanish Market1 By
نویسنده
چکیده
In this paper we propose to apply wavelet theory in forecasting economic time series. The method consists in decomposing the series into its long-term trend and its seasonal component according to the shape of the scalogram of the discrete wavelet transform of the series. Each component is then extended to provide a forecast of the total series. The method is applied to the data set of monthly car sales in the Spanish market and the results are compared with the BoxJenkins forecast of the series.
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