Mean absolute percentage error and bias in economic forecasting

Jordi McKenzie

doi:10.1016/j.econlet.2011.08.010

Mean absolute percentage error and bias in economic forecasting

Jordi McKenzie^*

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

69 Citations (Scopus)

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.

Original language	English
Pages (from-to)	259-262
Number of pages	4
Journal	Economics Letters
Volume	113
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2011.08.010
Publication status	Published - Dec 2011
Externally published	Yes

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title = "Mean absolute percentage error and bias in economic forecasting",

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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SN - 0165-1765

VL - 113

SP - 259

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JO - Economics Letters

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Mean absolute percentage error and bias in economic forecasting

Abstract

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