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RBA Glossary definition for RMSEs

RMSEs – Root Mean Squared Errors

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Appendix C: Imputation of Household Income in HILDA

31 Dec 2003 RDP 2003-08
Gianni La Cava and John Simon
The root mean square error (RMSE) is about $26,000. In the regression model for Type II households our model explains about 46 per cent of the variation in individuals' wage ... In the regression model for Type III households our model explains nearly 21
https://www.rba.gov.au/publications/rdp/2003/2003-08/appendix-c.html

Inflation Volatility and Forecast Accuracy

30 Oct 2009 RDP PDF 507KB
For both models,the root mean squared error (RMSE) fell substantially from the first to the second. ... In other words,it always predicts no change in inflation. We also present the RMSEs of a.
https://www.rba.gov.au/publications/rdp/2009/pdf/rdp2009-06.pdf

An Empirical BVAR-DSGE Model of the Australian Economy

2 Feb 2015 RDP PDF 657KB
model (as measured by their root meansquared error (RMSE)). ... the forecasting performance across models primarilyby their RMSE and their bias.
https://www.rba.gov.au/publications/rdp/2013/pdf/rdp2013-07.pdf

Monetary Policy Goals for Inflation in Australia

30 Nov 2009 RDP PDF 85KB
0.23 0.29. RMSE 1.27 1.21. # Announced in August of preceding year. ... 7 The weighted average RMSE of the individual OECD forecasts for the G7 countries over theperiod 1974-1992 was 1.5 per cent.
https://www.rba.gov.au/publications/rdp/1995/pdf/rdp9503.pdf

The Information Content of Financial Aggregates in Australia

1 Dec 2009 RDP PDF 278KB
21 The ratios of the root mean squared error (RMSE) is comparable to the Theil-U statistic used. ... in forecast evaluation that compares a forecast RMSE to that of a random walk forecast.
https://www.rba.gov.au/publications/rdp/1996/pdf/rdp9606.pdf

Housing Leverage in Australia

2 Dec 2009 RDP PDF 604KB
The root mean square error (RMSE) is about $26 000. In the regression model for Type II households our model explains about 46 per cent of the variation in individuals’ wage ... In the regression model for Type III households our model explains nearly
https://www.rba.gov.au/publications/rdp/2003/pdf/rdp2003-09.pdf

Estimating Output Gaps

1 Dec 2009 RDP PDF 386KB
Unobservedcomponents. gap. Productionfunction. gap. RMSE 0.0030 0.0022 0.0021 0.0026 0.0015 0.0021 0.0016Meanabsoluteerror. ... 0.0028 0.0020 0.0019 0.0023 0.0014 0.0019 0.0015. Note: RMSE is the root mean square error.
https://www.rba.gov.au/publications/rdp/1998/pdf/rdp9809.pdf

Econometric Analysis

31 Dec 2015 RDP 2015-06
David Rodgers
The aggregate level of credit losses predicted by Model C fits actual losses quite closely (the RMSE is 0.15), so this model provides a macro-level explanation that, while suffering ... This omission of lending standards is partly responsible for the
https://www.rba.gov.au/publications/rdp/2015/2015-06/eco-analysis.html

The Sticky Information Phillips Curve: Evidence for Australia

15 Apr 2015 RDP PDF 737KB
Each number in the table represents the root meansquared error (RMSE) of the forecast relative to the RMSE of an autoregressiveforecast; numbers less than unity indicate improved forecast accuracy relative toan
https://www.rba.gov.au/publications/rdp/2015/pdf/rdp2015-04.pdf

Volatility in International Capital Movements

15 Dec 2009 RDP PDF 240KB
The Root Mean Squared Error (RMSE) serves as a measure of the fit for each model. ... However, for emerging economies the average RMSE for the naïve model is more than twice as large as that for industrialised countries (not shown).
https://www.rba.gov.au/publications/rdp/2009/pdf/rdp2009-09.pdf