Time series applied in Romanian economy

Authors:
Daniela Damian;Neculai Patrascu;Claudia-Georgeta Carstea;Lucian Patrascu;Ioan-Gheorghe Ratiu;Nicoleta David
Affiliations:
Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania;Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania;Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania;Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania;Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania;Department of Mathematics, Informatics and Socio-Human Sciences, "George Baritiu" University of Brasov, Romania
Venue:
AIKED'09 Proceedings of the 8th WSEAS international conference on Artificial intelligence, knowledge engineering and data bases
Year:
2009

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Abstract

This article presents a practical application of time series analysis in Romanian economy. Time series-based forecasting possesses has wide practical applications due to its capabilities for accurate prediction, using past values, with small error. Time series forecasting often uses Box-Jenkins Methodology also known as ARIMA. The subject of time series is of considerable interest, especially among researchers in economics, engineering, medicine and so on. The outstanding Integrated Auto Regressive Moving Average Model ARIMA (p, d, q) is widespread and very used in Finance and Economics.