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RBA Glossary definition for RMSEs

RMSEs – Root Mean Squared Errors

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A Random Walk Around the $A: Expectations, Risk, Interest Rates and Consequences for External Imbalance

19 Nov 2012 RDP PDF 1760KB
Judged by the root mean square error. (RMSE) over the sample period, both the average market participants' four-week. ... RMSE for the no-change forecast of 3.1 %. 6 Table 2 reports estimates of equation (3).
https://www.rba.gov.au/publications/rdp/1989/pdf/rdp8906.pdf

The Stability of Money Demand

1 May 1987 RDP 8703
Adrian Blundell-Wignall and Susan Thorp
1.143. 2.84. RMSE. b. =0.029. 0.097. 5. γ. 2. = 0. ... 2.769). 0.00. 0.962. 2.95. RMSE. b. =0.014. 0.087. 5. γ. 2. =
https://www.rba.gov.au/publications/rdp/1987/8703/the-stability-of-money-demand.html

Multivariate Modelling

1 Aug 1986 RDP 8612
Jeffrey R. Sheen
is the optimal forecast and. is the forecast error. By comparing the root mean square error (RMSE) of μ to. , ... Max. Min. RMSE. Australia. M3 (monthly). μ. 011. 009. –. –. 014. 587. 053. 99. 66. –. μ. 012. 005. –. –. –. F. 0.0008. 010.
https://www.rba.gov.au/publications/rdp/1986/8612/multivariate-modelling.html

Underlying Inflation: Concepts, Measurement and Performance

21 Jul 2005 RDP PDF 191KB
found by searching across different trims and choosing the time-invariant trim that minimises the root mean squared error (RMSE) when the underlying measure is compared to a ‘benchmark’. ... in the calculation of the RMSE and mean absolute deviation
https://www.rba.gov.au/publications/rdp/2005/pdf/rdp2005-05.pdf

Is it Possible to Pick Good Forecasters?

1 Aug 1983 RDP 8302
Ian Macfarlane and J.R. Hawkins
It is tempting to award points to the forecasts that did best on average, judged by both RMSE and correlation. ... That is, the forecasters were ranked from one to twelve by the size of their RMSE for each variable for each year.
https://www.rba.gov.au/publications/rdp/1983/8302/is-it-possible-to-pick-good-forecasters.html

An Assessment of Estimates of the Output Gap

1 Aug 1998 RDP 9809
Gordon de Brouwer
RMSE. 0.0030. 0.0022. 0.0021. 0.0026. 0.0015. 0.0021. 0.0016. Mean absolute error. ... 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/1998/1998-09/assessment-of-estimates-of-the-output-gap.html

Underlying Inflation Concepts and Alternative Measures

31 Dec 2005 RDP 2005-05
Ivan Roberts
Bryan and Cecchetti (1994) suggest that the optimal trim can be found by searching across different trims and choosing the time-invariant trim that minimises the root mean squared error (RMSE) ... in the calculation of the RMSE and mean absolute
https://www.rba.gov.au/publications/rdp/2005/2005-05/underlying-inflation-concepts-measures.html

Issues in Formulating an Inflation Objective

1 Mar 1995 RDP 9503
Guy Debelle and Glenn Stevens
3.5. 2.8. 1.7. 2.3. mean error. (π$π). 0.23. 0.29. RMSE. 1.27. ... The weighted average RMSE of the individual OECD forecasts for the G7 countries over the period 1974–1992 was 1.5 per cent.
https://www.rba.gov.au/publications/rdp/1995/9503/issues-in-formulating-an-inflation-objective.html

Exchange Rate Expectations and the Forward Rate

1 Oct 1989 RDP 8906
Jeremy Smith and David W.R. Gruen
s. e. t k. s. t. Judged by the root mean square error (RMSE) over the sample period, both the average market participants' four-week forecast (s. ... The root mean square errors are respectively, 3.3% and 3.2% compared with a RMSE for the no-change
https://www.rba.gov.au/publications/rdp/1989/8906/exchange-rate-expectations-and-the-forward-rate.html

An Equilibrium Model of the UV Relationship

1 Jun 1993 RDP 9305
Jerome Fahrer and Andrew Pease
There is no visible difference between the non-linear expression and its linearised form, with the RMSE only 0.09 per cent.
https://www.rba.gov.au/publications/rdp/1993/9305/equilibrium-model-uv-relationship.html