Is the economic value of hydrological forecasts related to their quality? Case study of the hydropower sector.

Science.gov (United States)

Cassagnole, Manon; Ramos, Maria-Helena; Thirel, Guillaume; Gailhard, Joël; Garçon, Rémy

2017-04-01

The improvement of a forecasting system and the evaluation of the quality of its forecasts are recurrent steps in operational practice. However, the evaluation of forecast value or forecast usefulness for better decision-making is, to our knowledge, less frequent, even if it might be essential in many sectors such as hydropower and flood warning. In the hydropower sector, forecast value can be quantified by the economic gain obtained with the optimization of operations or reservoir management rules. Several hydropower operational systems use medium-range forecasts (up to 7-10 days ahead) and energy price predictions to optimize hydropower production. Hence, the operation of hydropower systems, including the management of water in reservoirs, is impacted by weather, climate and hydrologic variability as well as extreme events. In order to assess how the quality of hydrometeorological forecasts impact operations, it is essential to first understand if and how operations and management rules are sensitive to input predictions of different quality. This study investigates how 7-day ahead deterministic and ensemble streamflow forecasts of different quality might impact the economic gains of energy production. It is based on a research model developed by Irstea and EDF to investigate issues relevant to the links between quality and value of forecasts in the optimisation of energy production at the short range. Based on streamflow forecasts and pre-defined management constraints, the model defines the best hours (i.e., the hours with high energy prices) to produce electricity. To highlight the link between forecasts quality and their economic value, we built several synthetic ensemble forecasts based on observed streamflow time series. These inputs are generated in a controlled environment in order to obtain forecasts of different quality in terms of accuracy and reliability. These forecasts are used to assess the sensitivity of the decision model to forecast quality

The economic benefit of short-term forecasting for wind energy in the UK electricity market

International Nuclear Information System (INIS)

Barthelmie, R.J.; Murray, F.; Pryor, S.C.

2008-01-01

In the UK market, the total price of renewable electricity is made up of the Renewables Obligation Certificate and the price achieved for the electricity. Accurate forecasting improves the price if electricity is traded via the power exchange. In order to understand the size of wind farm for which short-term forecasting becomes economically viable, we develop a model for wind energy. Simulations were carried out for 2003 electricity prices for different forecast accuracies and strategies. The results indicate that it is possible to increase the price obtained by around pound 5/MWh which is about 14% of the electricity price in 2003 and about 6% of the total price. We show that the economic benefit of using short-term forecasting is also dependant on the accuracy and cost of purchasing the forecast. As the amount of wind energy requiring integration into the grid increases, short-term forecasting becomes more important to both wind farm owners and the transmission/distribution operators. (author)

Lifetime and economic analyses of lithium-ion batteries for balancing wind power forecast error

DEFF Research Database (Denmark)

Swierczynski, Maciej Jozef; Stroe, Daniel Ioan; Stroe, Ana-Irina

2015-01-01

is considered. In this paper, the economic feasibility of lithium-ion batteries for balancing the wind power forecast error is analysed. In order to perform a reliable assessment, an ageing model of lithium-ion battery was developed considering both cycling and calendar life. The economic analysis considers two......, it was found that for total elimination of the wind power forecast error, it is required to have a 25-MWh Li-ion battery energy storage system for the considered 2 MW WT....

As good as it gets : Alberta economic profile and forecast

International Nuclear Information System (INIS)

Hirsch, T.

2006-04-01

This economic profile and forecast report for the province of Alberta revealed that nearly every sector of the economy is operating at full, or near full capacity. Alberta's strong economy is a result of high energy prices, rapid population growth and rising employment. Increased provincial government spending along with tax reductions for businesses also contribute to a strong economy. However, the the province still faces some economic challenges, including a general labour shortage. Forestry and agriculture are under pressure of low commodity prices and high input costs, and the province has not articulated a long-term strategy for managing non-renewable natural resource revenue. In addition, the provincial economy is highly dependent upon volatile energy prices. Despite these challenges, the report states that the momentum is on the side of continued economic growth in Alberta. The Canada West Foundation is forecasting real growth in the gross domestic product of 5.2 per cent for 2006 and 4.7 per cent for 2007. The strong energy sector is largely responsible for much of Alberta's economic growth. An estimated 20,000 wells will be drilled in the province in 2006, and high oil prices will lead to record drilling and oil sands investment. This report also highlighted the economic activity in other sectors, including manufacturing, tourism, international exports, hi-tech, forestry, agriculture, and construction. Information regarding interprovincial migration and population growth was included along with public finances. 16 figs

Entropy Econometrics for combining regional economic forecasts: A Data-Weighted Prior Estimator

Science.gov (United States)

Fernández-Vázquez, Esteban; Moreno, Blanca

2017-10-01

Forecast combination has been studied in econometrics for a long time, and the literature has shown the superior performance of forecast combination over individual predictions. However, there is still controversy on which is the best procedure to specify the forecast weights. This paper explores the possibility of using a procedure based on Entropy Econometrics, which allows setting the weights for the individual forecasts as a mixture of different alternatives. In particular, we examine the ability of the Data-Weighted Prior Estimator proposed by Golan (J Econom 101(1):165-193, 2001) to combine forecasting models in a context of small sample sizes, a relative common scenario when dealing with time series for regional economies. We test the validity of the proposed approach using a simulation exercise and a real-world example that aims at predicting gross regional product growth rates for a regional economy. The forecasting performance of the Data-Weighted Prior Estimator proposed is compared with other combining methods. The simulation results indicate that in scenarios of heavily ill-conditioned datasets the approach suggested dominates other forecast combination strategies. The empirical results are consistent with the conclusions found in the numerical experiment.

A Systems Modeling Approach to Forecast Corn Economic Optimum Nitrogen Rate

Directory of Open Access Journals (Sweden)

Laila A. Puntel

2018-04-01

Full Text Available Historically crop models have been used to evaluate crop yield responses to nitrogen (N rates after harvest when it is too late for the farmers to make in-season adjustments. We hypothesize that the use of a crop model as an in-season forecast tool will improve current N decision-making. To explore this, we used the Agricultural Production Systems sIMulator (APSIM calibrated with long-term experimental data for central Iowa, USA (16-years in continuous corn and 15-years in soybean-corn rotation combined with actual weather data up to a specific crop stage and historical weather data thereafter. The objectives were to: (1 evaluate the accuracy and uncertainty of corn yield and economic optimum N rate (EONR predictions at four forecast times (planting time, 6th and 12th leaf, and silking phenological stages; (2 determine whether the use of analogous historical weather years based on precipitation and temperature patterns as opposed to using a 35-year dataset could improve the accuracy of the forecast; and (3 quantify the value added by the crop model in predicting annual EONR and yields using the site-mean EONR and the yield at the EONR to benchmark predicted values. Results indicated that the mean corn yield predictions at planting time (R2 = 0.77 using 35-years of historical weather was close to the observed and predicted yield at maturity (R2 = 0.81. Across all forecasting times, the EONR predictions were more accurate in corn-corn than soybean-corn rotation (relative root mean square error, RRMSE, of 25 vs. 45%, respectively. At planting time, the APSIM model predicted the direction of optimum N rates (above, below or at average site-mean EONR in 62% of the cases examined (n = 31 with an average error range of ±38 kg N ha−1 (22% of the average N rate. Across all forecast times, prediction error of EONR was about three times higher than yield predictions. The use of the 35-year weather record was better than using selected historical weather

A Systems Modeling Approach to Forecast Corn Economic Optimum Nitrogen Rate

Science.gov (United States)

Puntel, Laila A.; Sawyer, John E.; Barker, Daniel W.; Thorburn, Peter J.; Castellano, Michael J.; Moore, Kenneth J.; VanLoocke, Andrew; Heaton, Emily A.; Archontoulis, Sotirios V.

2018-01-01

Historically crop models have been used to evaluate crop yield responses to nitrogen (N) rates after harvest when it is too late for the farmers to make in-season adjustments. We hypothesize that the use of a crop model as an in-season forecast tool will improve current N decision-making. To explore this, we used the Agricultural Production Systems sIMulator (APSIM) calibrated with long-term experimental data for central Iowa, USA (16-years in continuous corn and 15-years in soybean-corn rotation) combined with actual weather data up to a specific crop stage and historical weather data thereafter. The objectives were to: (1) evaluate the accuracy and uncertainty of corn yield and economic optimum N rate (EONR) predictions at four forecast times (planting time, 6th and 12th leaf, and silking phenological stages); (2) determine whether the use of analogous historical weather years based on precipitation and temperature patterns as opposed to using a 35-year dataset could improve the accuracy of the forecast; and (3) quantify the value added by the crop model in predicting annual EONR and yields using the site-mean EONR and the yield at the EONR to benchmark predicted values. Results indicated that the mean corn yield predictions at planting time (R2 = 0.77) using 35-years of historical weather was close to the observed and predicted yield at maturity (R2 = 0.81). Across all forecasting times, the EONR predictions were more accurate in corn-corn than soybean-corn rotation (relative root mean square error, RRMSE, of 25 vs. 45%, respectively). At planting time, the APSIM model predicted the direction of optimum N rates (above, below or at average site-mean EONR) in 62% of the cases examined (n = 31) with an average error range of ±38 kg N ha−1 (22% of the average N rate). Across all forecast times, prediction error of EONR was about three times higher than yield predictions. The use of the 35-year weather record was better than using selected historical weather years

A Systems Modeling Approach to Forecast Corn Economic Optimum Nitrogen Rate.

Science.gov (United States)

Puntel, Laila A; Sawyer, John E; Barker, Daniel W; Thorburn, Peter J; Castellano, Michael J; Moore, Kenneth J; VanLoocke, Andrew; Heaton, Emily A; Archontoulis, Sotirios V

2018-01-01

Historically crop models have been used to evaluate crop yield responses to nitrogen (N) rates after harvest when it is too late for the farmers to make in-season adjustments. We hypothesize that the use of a crop model as an in-season forecast tool will improve current N decision-making. To explore this, we used the Agricultural Production Systems sIMulator (APSIM) calibrated with long-term experimental data for central Iowa, USA (16-years in continuous corn and 15-years in soybean-corn rotation) combined with actual weather data up to a specific crop stage and historical weather data thereafter. The objectives were to: (1) evaluate the accuracy and uncertainty of corn yield and economic optimum N rate (EONR) predictions at four forecast times (planting time, 6th and 12th leaf, and silking phenological stages); (2) determine whether the use of analogous historical weather years based on precipitation and temperature patterns as opposed to using a 35-year dataset could improve the accuracy of the forecast; and (3) quantify the value added by the crop model in predicting annual EONR and yields using the site-mean EONR and the yield at the EONR to benchmark predicted values. Results indicated that the mean corn yield predictions at planting time ( R 2 = 0.77) using 35-years of historical weather was close to the observed and predicted yield at maturity ( R 2 = 0.81). Across all forecasting times, the EONR predictions were more accurate in corn-corn than soybean-corn rotation (relative root mean square error, RRMSE, of 25 vs. 45%, respectively). At planting time, the APSIM model predicted the direction of optimum N rates (above, below or at average site-mean EONR) in 62% of the cases examined ( n = 31) with an average error range of ±38 kg N ha -1 (22% of the average N rate). Across all forecast times, prediction error of EONR was about three times higher than yield predictions. The use of the 35-year weather record was better than using selected historical weather

An empirical investigation on different methods of economic growth rate forecast and its behavior from fifteen countries across five continents

Science.gov (United States)

Yin, Yip Chee; Hock-Eam, Lim

2012-09-01

Our empirical results show that we can predict GDP growth rate more accurately in continent with fewer large economies, compared to smaller economies like Malaysia. This difficulty is very likely positively correlated with subsidy or social security policies. The stage of economic development and level of competiveness also appears to have interactive effects on this forecast stability. These results are generally independent of the forecasting procedures. Countries with high stability in their economic growth, forecasting by model selection is better than model averaging. Overall forecast weight averaging (FWA) is a better forecasting procedure in most countries. FWA also outperforms simple model averaging (SMA) and has the same forecasting ability as Bayesian model averaging (BMA) in almost all countries.

Long-Range Socio-Economic Forecasting of World Development in the Works by IMEMO RAS

Directory of Open Access Journals (Sweden)

Suslov D. V.

2011-12-01

Full Text Available A brief overview is given of papers by the Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO RAS on long-term socio-economic forecasting of global development. The forecasting methodology is shown, its capabilities and limitations, as well as the structure, main results and characteristics of the forecasts made by IMEMO RAS since early 2000s. The «Strategic Global Outlook for 2030» has acquired features of an interdisciplinary research, and has been developed based on a system analysis of objective socio-economic indicators, long-term global and regional socio-demographic trends, and expert assessment of the future dynamics of the political situation in individual countries and in intergovernmental relations. This methodology allowed the focus to be placed primarily on the stable trends of development in the world economy and the system of international relations, their actors, structures and institutions

Ups and downs of economics and econophysics — Facebook forecast

Science.gov (United States)

Gajic, Nenad; Budinski-Petkovic, Ljuba

2013-01-01

What is econophysics and its relationship with economics? What is the state of economics after the global economic crisis, and is there a future for the paradigm of market equilibrium, with imaginary perfect competition and rational agents? Can the next paradigm of economics adopt important assumptions derived from econophysics models: that markets are chaotic systems, striving to extremes as bubbles and crashes show, with psychologically motivated, statistically predictable individual behaviors? Is the future of econophysics, as predicted here, to disappear and become a part of economics? A good test of the current state of econophysics and its methods is the valuation of Facebook immediately after the initial public offering - this forecast indicates that Facebook is highly overvalued, and its IPO valuation of 104 billion dollars is mostly the new financial bubble based on the expectations of unlimited growth, although it’s easy to prove that Facebook is close to the upper limit of its users.

Developing integrated performance assessment and forecasting the level of financial and economic enterprise stability

Directory of Open Access Journals (Sweden)

Khudyakova T.A.

2017-01-01

Full Text Available The article deals with the problem of assessing and forecasting the level of financial and economic enterprise stability through the integrated indicators development. Currently, many enterprises operate under variable external environment, which imposes a strict requirement to consider this uncertainty. For the evaluation, analysis and prediction of the sustainability of the enterprise in the conditions of crisis we believe it possible and necessary to use the apparatus of probability theory and mathematical statistics. This problem solution will improve quantitative assessing the financial and economic stability level, forecasting possible scenarios of the enterprise development and, therefore, based on the proactive management principles and adaptation processes will greatly increase their effective functioning, as well as reduce bankruptcy probability.

Inaccuracy in traffic forecasts

DEFF Research Database (Denmark)

Flyvbjerg, Bent; Holm, Mette K. Skamris; Buhl, Søren Ladegaard

2006-01-01

This paper presents results from the first statistically significant study of traffic forecasts in transportation infrastructure projects. The sample used is the largest of its kind, covering 210 projects in 14 nations worth US$58 billion. The study shows with very high statistical significance...... that forecasters generally do a poor job of estimating the demand for transportation infrastructure projects. The result is substantial downside financial and economic risk. Forecasts have not become more accurate over the 30-year period studied. If techniques and skills for arriving at accurate demand forecasts...... forecasting. Highly inaccurate traffic forecasts combined with large standard deviations translate into large financial and economic risks. But such risks are typically ignored or downplayed by planners and decision-makers, to the detriment of social and economic welfare. The paper presents the data...

Forecasting performances of three automated modelling techniques during the economic crisis 2007-2009

DEFF Research Database (Denmark)

Kock, Anders Bredahl; Teräsvirta, Timo

2014-01-01

. The performances of these three model selectors are compared by looking at the accuracy of the forecasts of the estimated neural network models. We apply the neural network model and the three modelling techniques to monthly industrial production and unemployment series from the G7 countries and the four......In this work we consider the forecasting of macroeconomic variables during an economic crisis. The focus is on a specific class of models, the so-called single hidden-layer feed-forward autoregressive neural network models. What makes these models interesting in the present context is the fact...... that they form a class of universal approximators and may be expected to work well during exceptional periods such as major economic crises. Neural network models are often difficult to estimate, and we follow the idea of White (2006) of transforming the specification and nonlinear estimation problem...

Forecast Accuracy and Economic Gains from Bayesian Model Averaging using Time Varying Weights

NARCIS (Netherlands)

L.F. Hoogerheide (Lennart); R.H. Kleijn (Richard); H.K. van Dijk (Herman); M.J.C.M. Verbeek (Marno)

2009-01-01

textabstractSeveral Bayesian model combination schemes, including some novel approaches that simultaneously allow for parameter uncertainty, model uncertainty and robust time varying model weights, are compared in terms of forecast accuracy and economic gains using financial and macroeconomic time

Value versus Accuracy: application of seasonal forecasts to a hydro-economic optimization model for the Sudanese Blue Nile

Science.gov (United States)

Satti, S.; Zaitchik, B. F.; Siddiqui, S.; Badr, H. S.; Shukla, S.; Peters-Lidard, C. D.

2015-12-01

The unpredictable nature of precipitation within the East African (EA) region makes it one of the most vulnerable, food insecure regions in the world. There is a vital need for forecasts to inform decision makers, both local and regional, and to help formulate the region's climate change adaptation strategies. Here, we present a suite of different seasonal forecast models, both statistical and dynamical, for the EA region. Objective regionalization is performed for EA on the basis of interannual variability in precipitation in both observations and models. This regionalization is applied as the basis for calculating a number of standard skill scores to evaluate each model's forecast accuracy. A dynamically linked Land Surface Model (LSM) is then applied to determine forecasted flows, which drive the Sudanese Hydroeconomic Optimization Model (SHOM). SHOM combines hydrologic, agronomic and economic inputs to determine the optimal decisions that maximize economic benefits along the Sudanese Blue Nile. This modeling sequence is designed to derive the potential added value of information of each forecasting model to agriculture and hydropower management. A rank of each model's forecasting skill score along with its added value of information is analyzed in order compare the performance of each forecast. This research aims to improve understanding of how characteristics of accuracy, lead time, and uncertainty of seasonal forecasts influence their utility to water resources decision makers who utilize them.

Forecaster Behaviour and Bias in Macroeconomic Forecasts

OpenAIRE

Roy Batchelor

2007-01-01

This paper documents the presence of systematic bias in the real GDP and inflation forecasts of private sector forecasters in the G7 economies in the years 1990–2005. The data come from the monthly Consensus Economics forecasting service, and bias is measured and tested for significance using parametric fixed effect panel regressions and nonparametric tests on accuracy ranks. We examine patterns across countries and forecasters to establish whether the bias reflects the inefficient use of i...

Hydro-economic assessment of hydrological forecasting systems

Science.gov (United States)

Boucher, M.-A.; Tremblay, D.; Delorme, L.; Perreault, L.; Anctil, F.

2012-01-01

SummaryAn increasing number of publications show that ensemble hydrological forecasts exhibit good performance when compared to observed streamflow. Many studies also conclude that ensemble forecasts lead to a better performance than deterministic ones. This investigation takes one step further by not only comparing ensemble and deterministic forecasts to observed values, but by employing the forecasts in a stochastic decision-making assistance tool for hydroelectricity production, during a flood event on the Gatineau River in Canada. This allows the comparison between different types of forecasts according to their value in terms of energy, spillage and storage in a reservoir. The motivation for this is to adopt the point of view of an end-user, here a hydroelectricity production society. We show that ensemble forecasts exhibit excellent performances when compared to observations and are also satisfying when involved in operation management for electricity production. Further improvement in terms of productivity can be reached through the use of a simple post-processing method.

Short-term electric power demand forecasting based on economic-electricity transmission model

Science.gov (United States)

Li, Wenfeng; Bai, Hongkun; Liu, Wei; Liu, Yongmin; Wang, Yubin Mao; Wang, Jiangbo; He, Dandan

2018-04-01

Short-term electricity demand forecasting is the basic work to ensure safe operation of the power system. In this paper, a practical economic electricity transmission model (EETM) is built. With the intelligent adaptive modeling capabilities of Prognoz Platform 7.2, the econometric model consists of three industrial added value and income levels is firstly built, the electricity demand transmission model is also built. By multiple regression, moving averages and seasonal decomposition, the problem of multiple correlations between variables is effectively overcome in EETM. The validity of EETM is proved by comparison with the actual value of Henan Province. Finally, EETM model is used to forecast the electricity consumption of the 1-4 quarter of 2018.

Are Forecast Updates Progressive?

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); Ph.H.B.F. Franses (Philip Hans); M.J. McAleer (Michael)

2010-01-01

textabstractMacro-economic forecasts typically involve both a model component, which is replicable, as well as intuition, which is non-replicable. Intuition is expert knowledge possessed by a forecaster. If forecast updates are progressive, forecast updates should become more accurate, on average,

Neural networks and traditional time series methods: a synergistic combination in state economic forecasts.

Science.gov (United States)

Hansen, J V; Nelson, R D

1997-01-01

Ever since the initial planning for the 1997 Utah legislative session, neural-network forecasting techniques have provided valuable insights for analysts forecasting tax revenues. These revenue estimates are critically important since agency budgets, support for education, and improvements to infrastructure all depend on their accuracy. Underforecasting generates windfalls that concern taxpayers, whereas overforecasting produces budget shortfalls that cause inadequately funded commitments. The pattern finding ability of neural networks gives insightful and alternative views of the seasonal and cyclical components commonly found in economic time series data. Two applications of neural networks to revenue forecasting clearly demonstrate how these models complement traditional time series techniques. In the first, preoccupation with a potential downturn in the economy distracts analysis based on traditional time series methods so that it overlooks an emerging new phenomenon in the data. In this case, neural networks identify the new pattern that then allows modification of the time series models and finally gives more accurate forecasts. In the second application, data structure found by traditional statistical tools allows analysts to provide neural networks with important information that the networks then use to create more accurate models. In summary, for the Utah revenue outlook, the insights that result from a portfolio of forecasts that includes neural networks exceeds the understanding generated from strictly statistical forecasting techniques. In this case, the synergy clearly results in the whole of the portfolio of forecasts being more accurate than the sum of the individual parts.

MULTIREGION: a simulation-forecasting model of BEA economic area population and employment. [Bureau of Economic Analysis

Energy Technology Data Exchange (ETDEWEB)

Olsen, R.J.; Westley, G.W.; Herzog, H.W. Jr.; Kerley, C.R.; Bjornstad, D.J.; Vogt, D.P.; Bray, L.G.; Grady, S.T.; Nakosteen, R.A.

1977-10-01

This report documents the development of MULTIREGION, a computer model of regional and interregional socio-economic development. The MULTIREGION model interprets the economy of each BEA economic area as a labor market, measures all activity in terms of people as members of the population (labor supply) or as employees (labor demand), and simultaneously simulates or forecasts the demands and supplies of labor in all BEA economic areas at five-year intervals. In general the outputs of MULTIREGION are intended to resemble those of the Water Resource Council's OBERS projections and to be put to similar planning and analysis purposes. This report has been written at two levels to serve the needs of multiple audiences. The body of the report serves as a fairly nontechnical overview of the entire MULTIREGION project; a series of technical appendixes provide detailed descriptions of the background empirical studies of births, deaths, migration, labor force participation, natural resource employment, manufacturing employment location, and local service employment used to construct the model.

The Possibility Using the Power Production Function of Complex Variable for Economic Forecasting

Directory of Open Access Journals (Sweden)

Sergey Gennadyevich Svetunkov

2016-09-01

Full Text Available The possibility of dynamic analysis and forecasting production results using the power production functions of complex variables with real coefficients is considered. This model expands the arsenal of instrumental methods and allows multivariate production forecasts which are unattainable by other methods of real variables as the functions of complex variables simulate the production differently in comparison with the models of real variables. The values of coefficients of the power production functions of complex variables can be calculated for each statistical observation. This allows to consider the change of the coefficients over time, to analyze this trend and predict the values of the coefficients for a given term, thereby to predict the form of the production function, which forecasts the operating results. Thus, the model of the production function with variable coefficients is introduced into the scientific circulation. With this model, the inverse problem of forecasting might be solved, such as the determination of the necessary quantities of labor and capital to achieve the desired operational results. The study is based on the principles of the modern methodology of complex-valued economy, one of its sections is the complex-valued patterns of production functions. In the article, the possibility of economic forecasting is tested on the example of the UK economy. The results of this prediction are compared with the forecasts obtained by other methods, which have led to the conclusion about the effectiveness of the proposed approach and the method of forecasting at the macro levels of production systems. A complex-valued power model of the production function is recommended for the multivariate prediction of sustainable production systems — the global economy, the economies of individual countries, major industries and regions.

AVLIS: a technical and economic forecast

International Nuclear Information System (INIS)

Davis, J.I.; Spaeth, M.L.

1986-01-01

The AVLIS process has intrinsically large isotopic selectivity and hence high separative capacity per module. The critical components essential to achieving the high production rates represent a small fraction (approx.10%) of the total capital cost of a production facility, and the reference production designs are based on frequent replacement of these components. The specifications for replacement frequencies in a plant are conservative with respect to our expectations; it is reasonable to expect that, as the plant is operated, the specifications will be exceeded and production costs will continue to fall. Major improvements in separator production rates and laser system efficiencies (approx.power) are expected to occur as a natural evolution in component improvements. With respect to the reference design, such improvements have only marginal economic value, but given the exigencies of moving from engineering demonstration to production operations, we continue to pursue these improvements in order to offset any unforeseen cost increases. Thus, our technical and economic forecasts for the AVLIS process remain very positive. The near-term challenge is to obtain stable funding and a commitment to bring the process to full production conditions within the next five years. If the funding and commitment are not maintained, the team will disperse and the know-how will be lost before it can be translated into production operations. The motivation to preserve the option for low-cost AVLIS SWU production is integrally tied to the motivation to maintain a competitive nuclear option. The US industry can certainly survive without AVLIS, but our tradition as technology leader in the industry will certainly be lost

Forecasting risks of natural gas consumption in Slovenia

Energy Technology Data Exchange (ETDEWEB)

Potocnik, Primoz; Govekar, Edvard; Grabec, Igor [Laboratory of Synergetics, Ljubljana (Slovenia). Faculty of Mechanical Engineering; Thaler, Marko; Poredos, Alojz [Laboratory for Refrigeration, Ljubljana (Slovenia). Faculty of Mechanical Engineering

2007-08-15

Efficient operation of modern energy distribution systems often requires forecasting future energy demand. This paper proposes a strategy to estimate forecasting risk. The objective of the proposed method is to improve knowledge about expected forecasting risk and to estimate the expected cash flow in advance, based on the risk model. The strategy combines an energy demand forecasting model, an economic incentive model and a risk model. Basic guidelines are given for the construction of a forecasting model that combines past energy consumption data, weather data and weather forecast. The forecasting model is required to estimate expected forecasting errors that are the basis for forecasting risk estimation. The risk estimation strategy also requires an economic incentive model that describes the influence of forecasting accuracy on the energy distribution systems' cash flow. The economic model defines the critical forecasting error levels that most strongly influence cash flow. Based on the forecasting model and the economic model, the development of a risk model is proposed. The risk model is associated with critical forecasting error levels in the context of various influential parameters such as seasonal data, month, day of the week and temperature. The risk model is applicable to estimating the daily forecasting risk based on the influential parameters. The proposed approach is illustrated by a case study of a Slovenian natural gas distribution company. (author)

Forecasting risks of natural gas consumption in Slovenia

International Nuclear Information System (INIS)

Potocnik, Primoz; Thaler, Marko; Govekar, Edvard; Grabec, Igor; Poredos, Alojz

2007-01-01

Efficient operation of modern energy distribution systems often requires forecasting future energy demand. This paper proposes a strategy to estimate forecasting risk. The objective of the proposed method is to improve knowledge about expected forecasting risk and to estimate the expected cash flow in advance, based on the risk model. The strategy combines an energy demand forecasting model, an economic incentive model and a risk model. Basic guidelines are given for the construction of a forecasting model that combines past energy consumption data, weather data and weather forecast. The forecasting model is required to estimate expected forecasting errors that are the basis for forecasting risk estimation. The risk estimation strategy also requires an economic incentive model that describes the influence of forecasting accuracy on the energy distribution systems' cash flow. The economic model defines the critical forecasting error levels that most strongly influence cash flow. Based on the forecasting model and the economic model, the development of a risk model is proposed. The risk model is associated with critical forecasting error levels in the context of various influential parameters such as seasonal data, month, day of the week and temperature. The risk model is applicable to estimating the daily forecasting risk based on the influential parameters. The proposed approach is illustrated by a case study of a Slovenian natural gas distribution company

Production forecasting and economic evaluation of horizontal wells completed in natural fractured reservoirs

International Nuclear Information System (INIS)

Evans, R. D.

1996-01-01

A technique for optimizing recovery of hydrocarbons from naturally fractured reservoirs using horizontal well technology was proposed. The technique combines inflow performance analysis, production forecasting and economic considerations, and is based on material balance analysis and linear approximations of reservoir fluid properties as functions of reservoir pressure. An economic evaluation model accounting for the time value of cash flow, interest and inflation rates, is part of the package. Examples of using the technique have been demonstrated. The method is also applied to a gas well producing from a horizontal wellbore intersecting discrete natural fractures. 11 refs., 2 tabs,. 10 figs

Shadow Economy in the Context of Economic Crisis: Circumstance Analysis and the Forecasting of Consequences

Directory of Open Access Journals (Sweden)

Alexey Sergeyevich Naidenov

2013-03-01

Full Text Available The article is devoted to the problem of estimating dynamic of shadow economy in the context of socio-economic crisis negative influence. Factors and threats supporting the increase of shadow economy during the economic crisis were studied. Current situation in the Ural Federal District with regard to shadow economic activity for the period from 2006 to 2012 was represented. The results of forecasting shadow activity were given in the article on the example of Ural Federal District regions. Data obtained was used for developing target program activities, aimed at minimization of negative influence of shadow economy during the economic crisis. Special attention was given to the problem of improving the effectiveness of international cooperation concerning counteraction of shadow economic activity

Added economic value of limited area multi-EPS weather forecasting applications

Directory of Open Access Journals (Sweden)

Alex Deckmyn

2012-07-01

Full Text Available We compare the GLAMEPS system, a pan-European limited area ensemble prediction system, with ECMWF's EPS over Belgium for an extended period from March 2010 until the end of December 2010. In agreement with a previous study, we find GLAMEPS scores considerably better than ECMWF's EPS. To compute the economic value, we introduce a new relative economic value score for continuous forecasts. The added value of combining the GLAMEPS system with the LAEF system over Belgium is studied. We conclude that adding LAEF to GLAMEPS increases the value, although the increase is small compared to the improvement of GLAMEPS to ECMWF's EPS. As an added benefit we find that the combined GLAMEPS-LAEF multi-EPS system is more robust, that is, it is less vulnerable to the (accidental removal of one of its components.

Coupling Recruitment Forecasts with Economics in the Gulf of Maine's American Lobster Fishery

Science.gov (United States)

Wahle, R.; Oppenheim, N.; Brady, D. C.; Dayton, A.; Sun, C. H. J.

2016-02-01

Accurate predictions of fishery recruitment and landings represent an important goal of fisheries science and management, but linking environmental drivers of fish population dynamics to financial markets remains a challenge. A fundamental step in that process is understanding the environmental drivers of fishery recruitment. American lobster (Homarus americanus) populations of the northwest Atlantic have been undergoing a dramatic surge, mostly driven by increases the Gulf of Maine. Settler-recruit models that track cohorts after larvae settle to the sea bed are proving useful in predicting subsequent fishery recruitment some 5-7 years later. Here we describe new recruitment forecasting models for the lobster fishery at 11 management areas from Southern New England to Atlantic Canada. We use an annual survey of juvenile year-class strength and environmental indicators to parameterize growth and mortality terms in the model. As a consequence of a recent widespread multi-year downturn in larval settlement, our models suggest that the peak in lobster abundance in the Gulf of Maine will be passed in the near future. We also present initial steps in the coupling of forecast data with economic models for the fishery. We anticipate that these models will give stakeholders and policy makers time to consider their management choices for this most valuable of the region's fisheries. Our vision is to couple our forecast model outputs to an economic model that captures the dynamics of market forces in the New England and Canadian Maritime lobster fisheries. It will then be possible to estimate the financial status of the fishery several years in advance. This early warning system could mitigate the adverse effects of a fluctuating fishery on the coastal communities that are perilously dependent upon it.

Nonparametric Forecasting for Biochar Utilization in Poyang Lake Eco-Economic Zone in China

Directory of Open Access Journals (Sweden)

Meng-Shiuh Chang

2014-01-01

Full Text Available Agriculture is the least profitable industry in China. However, even with large financial subsidies from the government, farmers’ living standards have had no significant impact so far due to the historical, geographical, climatic factors. The study examines and quantifies the net economic and environmental benefits by utilizing biochar as a soil amendment in eleven counties in the Poyang Lake Eco-Economic Zone. A nonparametric kernel regression model is employed to estimate the relation between the scaled environmental and economic factors, which are determined as regression variables. In addition, the partial linear and single index regression models are used for comparison. In terms of evaluations of mean squared errors, the kernel estimator, exceeding the other estimators, is employed to forecast benefits of using biochar under various scenarios. The results indicate that biochar utilization can potentially increase farmers’ income if rice is planted and the net economic benefits can be achieved up to ¥114,900. The net economic benefits are higher when the pyrolysis plant is built in the south of Poyang Lake Eco-Economic Zone than when it is built in the north as the southern land is relatively barren, and biochar can save more costs on irrigation and fertilizer use.

Effective development of the entities on the basis of forecasting of financial and economic activities

Directory of Open Access Journals (Sweden)

I. I. Shanin

2017-01-01

Full Text Available In article, the questions connected with approach on effective development of industrial enterprises on the example of the furniture entities are considered. Effective development of the entities is directed to cost reduction in case of production and implementation of products, for improvement of indicators of financial and economic activities. The research is conducted on the example of the furniture entities of the Voronezh region and Krasnodar Krai. Any entity constantly uses these or those resources connected with material, labor and finance costs. All resources, which are consumed during a certain production cycle, create a cost budget or the expense plan of the entity, which are the most important economic indicators of activities of any entity. Not always at the entities the attention is properly paid to forecasting of production expenses for a further stage of functioning. Most the entities will organize the activities in such a way that current plans pass from year to year, and at the same time the alternative ways directed to cost reduction in case of production and further sales of products aren't considered. Any entity needs forecasting and planning of costs for the following production stages, for the purposes of innovative development and effective functioning of productive activity of the entity. First, it is necessary for assessment of opportunities when financing productive activity and for further scheduling of expenses, directed to cost reduction and cost reallocation. Having analysed activities of the entities and having studied accounting (financial records, it is revealed that at the entities in 2015 in comparison with 2014, there was a decrease in outputs, but at the same time, the loss is observed. Based on the carried-out analysis, on the example of financial and economic activities of JSC GRAFSKOYE and JSC GKMF, conclusions are drawn, cost reduction allowances in case of production are revealed, and recommendations in

Forecasting economy with Bayesian autoregressive distributed lag model: choosing optimal prior in economic downturn

OpenAIRE

Bušs, Ginters

2009-01-01

Bayesian inference requires an analyst to set priors. Setting the right prior is crucial for precise forecasts. This paper analyzes how optimal prior changes when an economy is hit by a recession. For this task, an autoregressive distributed lag (ADL) model is chosen. The results show that a sharp economic slowdown changes the optimal prior in two directions. First, it changes the structure of the optimal weight prior, setting smaller weight on the lagged dependent variable compared to varia...

Development of a forecasting method of a region`s electric power demand. 1. Forecasting economic and social indexes; Chiikibetsu denryoku juyo yosoku shuhono kaihatsu ni tsuite. 1. Keizai shakai shihyo no yosoku

Energy Technology Data Exchange (ETDEWEB)

Minato, Y. [Shikoku Research Institute Inc., Kagawa (Japan); Yokoi, Y. [The University of Tokushima, Tokushima (Japan)

1996-01-20

This paper relates to the forecasting method of the electric power demands (kWh and kW) of a region, approached by not only time series analysis but economic and social indexes. Those indexes, based on historical statistics such as census and establishment statistics, are rearranged from an administrative division to a managerial division of the electric power company, and applied as fundamental information for forecasting the area`s kWh and also sales promotion. This method of forecasting the area`s kWh is based on the concept that area`s kWh is strongly connected with the population their lifestyle and their activity within the region. In the paper, the framework of the computational model system and forecast result are discussed. The population, number of households and their members, and number of employed persons, are all evaluated. The forecasting method of the area`s population proposed here is based on the concept that the transition of population consists of both natural growth and immigration. By estimating both factors, the future area`s population can be easily forecasted. The information of whether the population is increasing or decreasing is useful for forecasting the region`s kWh and required sales promotion. 8 refs., 8 figs., 3 tabs.

Forecasting gaming revenues in Clark County, Nevada: Issues and methods

Energy Technology Data Exchange (ETDEWEB)

Edwards, B.K.; Bando, A.

1992-01-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. Is is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry. The model is meant to forecast Clark County gaming revenues and identifies the exogenous variables that affect gaming revenues. It will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming-related economic activity resulting from changes in regional economic activity and tourism.

Forecasting gaming revenues in Clark County, Nevada: Issues and methods

Energy Technology Data Exchange (ETDEWEB)

Edwards, B.K.; Bando, A.

1992-07-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. Is is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry. The model is meant to forecast Clark County gaming revenues and identifies the exogenous variables that affect gaming revenues. It will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming-related economic activity resulting from changes in regional economic activity and tourism.

Essays on forecasting stationary and nonstationary economic time series

Science.gov (United States)

Bachmeier, Lance Joseph

This dissertation consists of three essays. Chapter II considers the question of whether M2 growth can be used to forecast inflation at horizons of up to ten years. A vector error correction (VEC) model serves as our benchmark model. We find that M2 growth does have marginal predictive content for inflation at horizons of more than two years, but only when allowing for cointegration and when the cointegrating rank and vector are specified a priori. When estimating the cointegration vector or failing to impose cointegration, there is no longer evidence of causality running from M2 growth to inflation at any forecast horizon. Finally, we present evidence that M2 needs to be redefined, as forecasts of the VEC model using data on M2 observed after 1993 are worse than the forecasts of an autoregressive model of inflation. Chapter III reconsiders the evidence for a "rockets and feathers" effect in gasoline markets. We estimate an error correction model of gasoline prices using daily data for the period 1985--1998 and fail to find any evidence of asymmetry. We show that previous work suffered from two problems. First, nonstationarity in some of the regressors was ignored, leading to invalid inference. Second, the weekly data used in previous work leads to a temporal aggregation problem, and thus biased estimates of impulse response functions. Chapter IV tests for a forecasting relationship between the volume of litigation and macroeconomic variables. We analyze annual data for the period 1960--2000 on the number of cases filed, real GDP, real consumption expenditures, inflation, unemployment, and interest rates. Bivariate Granger causality tests show that several of the macroeconomic variables can be used to forecast the volume of litigation, but show no evidence that the volume of litigation can be used to forecast any of the macroeconomic variables. The analysis is then extended to bivariate and multivariate regression models, and we find similar evidence to that of the

Forecasting in the presence of expectations

Science.gov (United States)

Allen, R.; Zivin, J. G.; Shrader, J.

2016-05-01

Physical processes routinely influence economic outcomes, and actions by economic agents can, in turn, influence physical processes. This feedback creates challenges for forecasting and inference, creating the potential for complementarity between models from different academic disciplines. Using the example of prediction of water availability during a drought, we illustrate the potential biases in forecasts that only take part of a coupled system into account. In particular, we show that forecasts can alter the feedbacks between supply and demand, leading to inaccurate prediction about future states of the system. Although the example is specific to drought, the problem of feedback between expectations and forecast quality is not isolated to the particular model-it is relevant to areas as diverse as population assessments for conservation, balancing the electrical grid, and setting macroeconomic policy.

A Hybrid Approach on Tourism Demand Forecasting

Science.gov (United States)

Nor, M. E.; Nurul, A. I. M.; Rusiman, M. S.

2018-04-01

Tourism has become one of the important industries that contributes to the country’s economy. Tourism demand forecasting gives valuable information to policy makers, decision makers and organizations related to tourism industry in order to make crucial decision and planning. However, it is challenging to produce an accurate forecast since economic data such as the tourism data is affected by social, economic and environmental factors. In this study, an equally-weighted hybrid method, which is a combination of Box-Jenkins and Artificial Neural Networks, was applied to forecast Malaysia’s tourism demand. The forecasting performance was assessed by taking the each individual method as a benchmark. The results showed that this hybrid approach outperformed the other two models

Economic analysis model for total energy and economic systems

International Nuclear Information System (INIS)

Shoji, Katsuhiko; Yasukawa, Shigeru; Sato, Osamu

1980-09-01

This report describes framing an economic analysis model developed as a tool of total energy systems. To prospect and analyze future energy systems, it is important to analyze the relation between energy system and economic structure. We prepared an economic analysis model which was suited for this purpose. Our model marks that we can analyze in more detail energy related matters than other economic ones, and can forecast long-term economic progress rather than short-term economic fluctuation. From view point of economics, our model is longterm multi-sectoral economic analysis model of open Leontief type. Our model gave us appropriate results for fitting test and forecasting estimation. (author)

Long-term forecast 2010; Laangsiktsprognos 2010

Energy Technology Data Exchange (ETDEWEB)

2011-07-01

This report presents the energy forecast to the year 2030, and two different sensitivity scenarios. The forecast is based on existing instruments, which means that the report's findings should not be considered a proper forecast of the future energy use, but as an impact assessment of existing policy instruments, given different circumstances such as economic growth and fuel prices

The economic value of accurate wind power forecasting to utilities

Energy Technology Data Exchange (ETDEWEB)

Watson, S J [Rutherford Appleton Lab., Oxfordshire (United Kingdom); Giebel, G; Joensen, A [Risoe National Lab., Dept. of Wind Energy and Atmospheric Physics, Roskilde (Denmark)

1999-03-01

With increasing penetrations of wind power, the need for accurate forecasting is becoming ever more important. Wind power is by its very nature intermittent. For utility schedulers this presents its own problems particularly when the penetration of wind power capacity in a grid reaches a significant level (>20%). However, using accurate forecasts of wind power at wind farm sites, schedulers are able to plan the operation of conventional power capacity to accommodate the fluctuating demands of consumers and wind farm output. The results of a study to assess the value of forecasting at several potential wind farm sites in the UK and in the US state of Iowa using the Reading University/Rutherford Appleton Laboratory National Grid Model (NGM) are presented. The results are assessed for different types of wind power forecasting, namely: persistence, optimised numerical weather prediction or perfect forecasting. In particular, it will shown how the NGM has been used to assess the value of numerical weather prediction forecasts from the Danish Meteorological Institute model, HIRLAM, and the US Nested Grid Model, which have been `site tailored` by the use of the linearized flow model WA{sup s}P and by various Model output Statistics (MOS) and autoregressive techniques. (au)

A grey neural network and input-output combined forecasting model. Primary energy consumption forecasts in Spanish economic sectors

International Nuclear Information System (INIS)

Liu, Xiuli; Moreno, Blanca; García, Ana Salomé

2016-01-01

A combined forecast of Grey forecasting method and neural network back propagation model, which is called Grey Neural Network and Input-Output Combined Forecasting Model (GNF-IO model), is proposed. A real case of energy consumption forecast is used to validate the effectiveness of the proposed model. The GNF-IO model predicts coal, crude oil, natural gas, renewable and nuclear primary energy consumption volumes by Spain's 36 sub-sectors from 2010 to 2015 according to three different GDP growth scenarios (optimistic, baseline and pessimistic). Model test shows that the proposed model has higher simulation and forecasting accuracy on energy consumption than Grey models separately and other combination methods. The forecasts indicate that the primary energies as coal, crude oil and natural gas will represent on average the 83.6% percent of the total of primary energy consumption, raising concerns about security of supply and energy cost and adding risk for some industrial production processes. Thus, Spanish industry must speed up its transition to an energy-efficiency economy, achieving a cost reduction and increase in the level of self-supply. - Highlights: • Forecasting System Using Grey Models combined with Input-Output Models is proposed. • Primary energy consumption in Spain is used to validate the model. • The grey-based combined model has good forecasting performance. • Natural gas will represent the majority of the total of primary energy consumption. • Concerns about security of supply, energy cost and industry competitiveness are raised.

Hydroclimate Forecasts in Ethiopia: Benefits, Impediments, and Ways Forward

Science.gov (United States)

Block, P. J.

2014-12-01

Numerous hydroclimate forecast models, tools, and guidance exist for application across Ethiopia and East Africa in the agricultural, water, energy, disasters, and economic sectors. This has resulted from concerted local and international interdisciplinary efforts, yet little evidence exists of rapid forecast uptake and use. We will review projected benefits and gains of seasonal forecast application, impediments, and options for the way forward. Specific case studies regarding floods, agricultural-economic links, and hydropower will be reviewed.

Short-term natural gas consumption forecasting

International Nuclear Information System (INIS)

Potocnik, P.; Govekar, E.; Grabec, I.

2007-01-01

Energy forecasting requirements for Slovenia's natural gas market were investigated along with the cycles of natural gas consumption. This paper presented a short-term natural gas forecasting approach where the daily, weekly and yearly gas consumption were analyzed and the information obtained was incorporated into the forecasting model for hourly forecasting for the next day. The natural gas market depends on forecasting in order to optimize the leasing of storage capacities. As such, natural gas distribution companies have an economic incentive to accurately forecast their future gas consumption. The authors proposed a forecasting model with the following properties: two submodels for the winter and summer seasons; input variables including past consumption data, weather data, weather forecasts and basic cycle indexes; and, a hierarchical forecasting structure in which a daily model was used as the basis, with the hourly forecast obtained by modeling the relative daily profile. This proposed method was illustrated by a forecasting example for Slovenia's natural gas market. 11 refs., 11 figs

The role of forecasts in monetary policy

OpenAIRE

Jeffery D. Amato; Thomas Laubach

2000-01-01

Forecasts of future economic developments play an important role for the monetary policy decisions of central banks. For example, forecasts of goal variables can help central banks achieve their goals and make them more accountable to the public. There are two primary explanations for the benefits of forecasts. The first is that monetary policy affects goal variables such as inflation and output only with substantial lags. Policy actions should, therefore, be based on forecasts of goal variab...

Bayesian analyses of seasonal runoff forecasts

Science.gov (United States)

Krzysztofowicz, R.; Reese, S.

1991-12-01

Forecasts of seasonal snowmelt runoff volume provide indispensable information for rational decision making by water project operators, irrigation district managers, and farmers in the western United States. Bayesian statistical models and communication frames have been researched in order to enhance the forecast information disseminated to the users, and to characterize forecast skill from the decision maker's point of view. Four products are presented: (i) a Bayesian Processor of Forecasts, which provides a statistical filter for calibrating the forecasts, and a procedure for estimating the posterior probability distribution of the seasonal runoff; (ii) the Bayesian Correlation Score, a new measure of forecast skill, which is related monotonically to the ex ante economic value of forecasts for decision making; (iii) a statistical predictor of monthly cumulative runoffs within the snowmelt season, conditional on the total seasonal runoff forecast; and (iv) a framing of the forecast message that conveys the uncertainty associated with the forecast estimates to the users. All analyses are illustrated with numerical examples of forecasts for six gauging stations from the period 1971 1988.

Better Forecasting for Better Planning: A Systems Approach.

Science.gov (United States)

Austin, W. Burnet

Predictions and forecasts are the most critical features of rational planning as well as the most vulnerable to inaccuracy. Because plans are only as good as their forecasts, current planning procedures could be improved by greater forecasting accuracy. Economic factors explain and predict more than any other set of factors, making economic…

Using a Software Tool in Forecasting: a Case Study of Sales Forecasting Taking into Account Data Uncertainty

Science.gov (United States)

Fabianová, Jana; Kačmáry, Peter; Molnár, Vieroslav; Michalik, Peter

2016-10-01

Forecasting is one of the logistics activities and a sales forecast is the starting point for the elaboration of business plans. Forecast accuracy affects the business outcomes and ultimately may significantly affect the economic stability of the company. The accuracy of the prediction depends on the suitability of the use of forecasting methods, experience, quality of input data, time period and other factors. The input data are usually not deterministic but they are often of random nature. They are affected by uncertainties of the market environment, and many other factors. Taking into account the input data uncertainty, the forecast error can by reduced. This article deals with the use of the software tool for incorporating data uncertainty into forecasting. Proposals are presented of a forecasting approach and simulation of the impact of uncertain input parameters to the target forecasted value by this case study model. The statistical analysis and risk analysis of the forecast results is carried out including sensitivity analysis and variables impact analysis.

Guidelines for forecasting energy demand

International Nuclear Information System (INIS)

Sonino, T.

1976-11-01

Four methodologies for forecasting energy demand are reviewed here after considering the role of energy in the economy and the analysis of energy use in different economic sectors. The special case of Israel is considered throughout, and some forecasts for energy demands in the year 2000 are presented. An energy supply mix that may be considered feasible is proposed. (author)

Practical Results of Forecasting for the Natural Gas Market

OpenAIRE

Potocnik, Primoz; Govekar, Edvard

2010-01-01

Natural gas consumption forecasting is required to balance the supply and consumption of natural gas. Companies and natural gas distributors are motivated to forecast their consumption by the economic incentive model that dictates the cash flow rules corresponding to the forecasting accuracy. The rules are quite challenging but enable the company to gain positive cash flow by forecasting accurately their short-term natural gas consumption. In this chapter, some practical forecasting results f...

Research on energy supply, demand and economy forecasting in Japan

International Nuclear Information System (INIS)

Shiba, Tsuyoshi; Kamezaki, Hiroshi; Yuyama, Tomonori; Suzuki, Atsushi

1999-10-01

This project aims to do research on forecasts of energy demand structure and electricity generation cost in each power plant in Japan in the 21st century, considering constructing successful FBR scenario. During the process of doing research on forecasts of energy demand structure in Japan, documents published from organizations in inside and outside of Japan were collected. These documents include prospects of economic growth rate, forecasts of amount for energy supply and demand, the maximum amount of introducing new energy resources, CO2 regulation, and evaluation of energy best mixture. Organizations in Japan such as Economic Council and Japan Energy Economic Research Institute have provided long-term forecasts until the early 21st century. Meanwhile, organizations overseas have provided forecasts of economic structure, and demand and supply for energy in OECD and East Asia including Japan. In connection with forecasts of electricity generation cost in each power plant, views on the ultimate reserves and cost of resources are reviewed in this report. According to some views on oil reserves, making assumptions based on reserves/production ratio, the maximum length of the time that oil reserves will last is 150 years. In addition, this report provides summaries of cost and potential role of various resources, including solar energy and wind energy; and views on waste, safety, energy security-related externality cost, and the price of transferring CO2 emission right. (author)

Forecasting the demand for new telecommunication services

DEFF Research Database (Denmark)

Skouby, Knud Erik; Veiro, Bjørn

1991-01-01

A forecasting method that is applicable for new services, where little historical data have been recorded, is proposed. The method uses estimators based on economical, demographic and traffic data. Compared to traditional forecasting procedures that are built upon a solid historical record of dat...

A novel economy reflecting short-term load forecasting approach

International Nuclear Information System (INIS)

Lin, Cheng-Ting; Chou, Li-Der

2013-01-01

Highlights: ► We combine MA line of TAIEX and SVR to overcome the load demands over-prediction problems caused by the economic downturn. ► The Taiwan island-wide electricity power system was used as the case study. ► Short- to middle-term MA lines of TAIEX are found to be good economic input variables for load forecasting models. - Abstract: The global economic downturn in 2008 and 2009, which was spurred by the bankruptcy of Lehman Brothers, sharply reduced the demand for electricity load. Conventional load-forecasting approaches were unable to respond to sudden changes in the economy, because these approaches do not consider the effect of economic factors. Therefore, the over-prediction problem occurred. To overcome this problem, this paper proposes a novel, economy-reflecting, short-term load forecasting (STLF) approach based on theories of moving average (MA) line of stock index and machine learning. In this approach, the stock indices decision model is designed to reflect fluctuations in the Taiwan Stock Exchange Capitalization Weighted Stock Index (TAIEX) series, which is selected as an optimal input variable in support vector regression load forecasting model at an appropriate timing. The Taiwan island-wide hourly electricity load demands from 2008 to 2010 are used as the case study for performance benchmarking. Results show that the proposed approach with a 60-day MA of the TAIEX as economic learning pattern achieves good forecasting performance. It outperforms the conventional approach by 29.16% on average during economic downturn-affected days. Overall, the proposed approach successfully overcomes the over-prediction problems caused by the economic downturn. To the best of our knowledge, this paper is the first attempt to apply MA line theory of stock index on STLF.

Combining forecast weights: Why and how?

Science.gov (United States)

Yin, Yip Chee; Kok-Haur, Ng; Hock-Eam, Lim

2012-09-01

This paper proposes a procedure called forecast weight averaging which is a specific combination of forecast weights obtained from different methods of constructing forecast weights for the purpose of improving the accuracy of pseudo out of sample forecasting. It is found that under certain specified conditions, forecast weight averaging can lower the mean squared forecast error obtained from model averaging. In addition, we show that in a linear and homoskedastic environment, this superior predictive ability of forecast weight averaging holds true irrespective whether the coefficients are tested by t statistic or z statistic provided the significant level is within the 10% range. By theoretical proofs and simulation study, we have shown that model averaging like, variance model averaging, simple model averaging and standard error model averaging, each produces mean squared forecast error larger than that of forecast weight averaging. Finally, this result also holds true marginally when applied to business and economic empirical data sets, Gross Domestic Product (GDP growth rate), Consumer Price Index (CPI) and Average Lending Rate (ALR) of Malaysia.

Quantifying forecast quality of IT business value

NARCIS (Netherlands)

Eveleens, J.L.; van der Pas, M.; Verhoef, C.

2012-01-01

This article discusses how to quantify the forecasting quality of IT business value. We address a common economic indicator often used to determine the business value of project proposals, the Net Present Value (NPV). To quantify the forecasting quality of IT business value, we develop a generalized

Frost Monitoring and Forecasting Using MODIS Land Surface Temperature Data and a Numerical Weather Prediction Model Forecasts for Eastern Africa

Science.gov (United States)

Kabuchanga, Eric; Flores, Africa; Malaso, Susan; Mungai, John; Sakwa, Vincent; Shaka, Ayub; Limaye, Ashutosh

2014-01-01

Frost is a major challenge across Eastern Africa, severely impacting agricultural farms. Frost damages have wide ranging economic implications on tea and coffee farms, which represent a major economic sector. Early monitoring and forecasting will enable farmers to take preventive actions to minimize the losses. Although clearly important, timely information on when to protect crops from freezing is relatively limited. MODIS Land Surface Temperature (LST) data, derived from NASA's Terra and Aqua satellites, and 72-hr weather forecasts from the Kenya Meteorological Service's operational Weather Research Forecast model are enabling the Regional Center for Mapping of Resources for Development (RCMRD) and the Tea Research Foundation of Kenya to provide timely information to farmers in the region. This presentation will highlight an ongoing collaboration among the Kenya Meteorological Service, RCMRD, and the Tea Research Foundation of Kenya to identify frost events and provide farmers with potential frost forecasts in Eastern Africa.

An independent system operator's perspective on operational ramp forecasting

Energy Technology Data Exchange (ETDEWEB)

Porter, G. [New Brunswick System Operator, Fredericton, NB (Canada)

2010-07-01

One of the principal roles of the power system operator is to select the most economical resources to reliably supply electric system power needs. Operational wind power production forecasts are required by system operators in order to understand the impact of ramp event forecasting on dispatch functions. A centralized dispatch approach can contribute to a more efficient use of resources that traditional economic dispatch methods. Wind ramping events can have a significant impact on system reliability. Power systems can have constrained or robust transmission systems, and may also be islanded or have large connections to neighbouring systems. Power resources can include both flexible and inflexible generation resources. Wind integration tools must be used by system operators to improve communications and connections with wind power plants. Improved wind forecasting techniques are also needed. Sensitivity to forecast errors is dependent on current system conditions. System operators require basic production forecasts, probabilistic forecasts, and event forecasts. Forecasting errors were presented as well as charts outlining the implications of various forecasts. tabs., figs.

forecasting with nonlinear time series model: a monte-carlo

African Journals Online (AJOL)

PUBLICATIONS1

erated recursively up to any step greater than one. For nonlinear time series model, point forecast for step one can be done easily like in the linear case but forecast for a step greater than or equal to ..... London. Franses, P. H. (1998). Time series models for business and Economic forecasting, Cam- bridge University press.

Evaluating Forecasts, Narratives and Policy Using a Test of Invariance

Directory of Open Access Journals (Sweden)

Jennifer L. Castle

2017-09-01

Full Text Available Economic policy agencies produce forecasts with accompanying narratives, and base policy changes on the resulting anticipated developments in the target variables. Systematic forecast failure, defined as large, persistent deviations of the outturns from the numerical forecasts, can make the associated narrative false, which would in turn question the validity of the entailed policy implementation. We establish when systematic forecast failure entails failure of the accompanying narrative, which we call forediction failure, and when that in turn implies policy invalidity. Most policy regime changes involve location shifts, which can induce forediction failure unless the policy variable is super exogenous in the policy model. We propose a step-indicator saturation test to check in advance for invariance to policy changes. Systematic forecast failure, or a lack of invariance, previously justified by narratives reveals such stories to be economic fiction.

How uncertain are day-ahead wind forecasts?

Energy Technology Data Exchange (ETDEWEB)

Grimit, E. [3TIER Environmental Forecast Group, Seattle, WA (United States)

2006-07-01

Recent advances in the combination of weather forecast ensembles with Bayesian statistical techniques have helped to address uncertainties in wind forecasting. Weather forecast ensembles are a collection of numerical weather predictions. The combination of several equally-skilled forecasts typically results in a consensus forecast with greater accuracy. The distribution of forecasts also provides an estimate of forecast inaccuracy. However, weather forecast ensembles tend to be under-dispersive, and not all forecast uncertainties can be taken into account. In order to address these issues, a multi-variate linear regression approach was used to correct the forecast bias for each ensemble member separately. Bayesian model averaging was used to provide a predictive probability density function to allow for multi-modal probability distributions. A test location in eastern Canada was used to demonstrate the approach. Results of the test showed that the method improved wind forecasts and generated reliable prediction intervals. Prediction intervals were much shorter than comparable intervals based on a single forecast or on historical observations alone. It was concluded that the approach will provide economic benefits to both wind energy developers and investors. refs., tabs., figs.

Added value of dynamical downscaling of winter seasonal forecasts over North America

Science.gov (United States)

Tefera Diro, Gulilat; Sushama, Laxmi

2017-04-01

Skillful seasonal forecasts have enormous potential benefits for socio-economic sectors that are sensitive to weather and climate conditions, as the early warning routines could reduce the vulnerability of such sectors. In this study, individual ensemble members of the ECMWF global ensemble seasonal forecasts are dynamically downscaled to produce ensemble of regional seasonal forecasts over North America using the fifth generation Canadian Regional Climate Model (CRCM5). CRCM5 forecasts are initialized on November 1st of each year and are integrated for four months for the 1991-2001 period at 0.22 degree resolution to produce a one-month lead-time forecast. The initial conditions for atmospheric variables are obtained from ERA-Interim reanalysis, whereas the initial conditions for land surface are obtained from a separate ERA-interim driven CRCM5 simulation with spectral nudging applied to the interior domain. The global and regional ensemble forecasts were then verified to investigate the skill and economic benefits of dynamical downscaling. Results indicate that both the global and regional climate models produce skillful precipitation forecast over the southern Great Plains and eastern coasts of the U.S and skillful temperature forecasts over the northern U.S. and most of Canada. In comparison to ECMWF forecasts, CRCM5 forecasts improved the temperature forecast skill over most part of the domain, but the improvements for precipitation is limited to regions with complex topography, where it improves the frequency of intense daily precipitation. CRCM5 forecast also yields a better economic value compared to ECMWF precipitation forecasts, for users whose cost to loss ratio is smaller than 0.5.

Concerning the justiciability of demand forecasts

International Nuclear Information System (INIS)

Nierhaus, M.

1977-01-01

This subject plays at present in particular a role in the course of judicial examinations of immediately enforceable orders for the partial construction licences of nuclear power plants. The author distinguishes beween three kinds of forecast decisions: 1. Appraising forecast decisions with standards of judgment taken mainly from the fields of the art, culture, morality, religion are, according to the author, only legally verifyable to a limited extent. 2. With regard to forecast decisions not arguable, e.g. where the future behaviour of persons is concerned, the same should be applied basically. 3. In contrast to this, the following is applicable for programmatic, proceedingslike, or creative forecast decisions, in particular in economics: 'An administrative estimation privilege in a prognostic sense with the consequence that the court has to accept the forecast decision which lies within the forecast margins and which cannot be disproved, and that the court may not replace this forecast decision by its own probability judgment. In these cases, administration has the right to create its own forecast standards.' Judicial control in these cases was limited to certain substantive and procedural mistakes made by the administration in the course of forecast decision finding. (orig./HP) [de

Concerning the justiciability of demand forecasts

Energy Technology Data Exchange (ETDEWEB)

Nierhaus, M [Koeln Univ. (Germany, F.R.)

1977-01-01

This subject plays at present in particular a role in the course of judicial examinations of immediately enforceable orders for the partial construction licences of nuclear power plants. The author distinguishes beween three kinds of forecast decisions: 1. Appraising forecast decisions with standards of judgment taken mainly from the fields of the art, culture, morality, religion are, according to the author, only legally verifyable to a limited extent. 2. With regard to forecast decisions not arguable, e.g. where the future behaviour of persons is concerned, the same should be applied basically. 3. In contrast to this, the following is applicable for programmatic, proceedingslike, or creative forecast decisions, in particular in economics: 'An administrative estimation privilege in a prognostic sense with the consequence that the court has to accept the forecast decision which lies within the forecast margins and which cannot be disproved, and that the court may not replace this forecast decision by its own probability judgment. In these cases, administration has the right to create its own forecast standards.' Judicial control in these cases was limited to certain substantive and procedural mistakes made by the administration in the course of forecast decision finding.

The Probability of Default Under IFRS 9: Multi-period Estimation and Macroeconomic Forecast

Directory of Open Access Journals (Sweden)

Tomáš Vaněk

2017-01-01

Full Text Available In this paper we propose a straightforward, flexible and intuitive computational framework for the multi-period probability of default estimation incorporating macroeconomic forecasts. The concept is based on Markov models, the estimated economic adjustment coefficient and the official economic forecasts of the Czech National Bank. The economic forecasts are taken into account in a separate step to better distinguish between idiosyncratic and systemic risk. This approach is also attractive from the interpretational point of view. The proposed framework can be used especially when calculating lifetime expected credit losses under IFRS 9.

Econometric Models for Forecasting of Macroeconomic Indices

Science.gov (United States)

Sukhanova, Elena I.; Shirnaeva, Svetlana Y.; Mokronosov, Aleksandr G.

2016-01-01

The urgency of the research topic was stipulated by the necessity to carry out an effective controlled process by the economic system which can hardly be imagined without indices forecasting characteristic of this system. An econometric model is a safe tool of forecasting which makes it possible to take into consideration the trend of indices…

A forecasting model of gaming revenues in Clark County, Nevada

International Nuclear Information System (INIS)

Edwards, B.; Bando, A.; Bassett, G.; Rosen, A.; Carlson, J.; Meenan, C.

1992-01-01

This paper describes the Western Area Gaining and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, an identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain

A forecasting model of gaming revenues in Clark County, Nevada

International Nuclear Information System (INIS)

Edwards, B.; Bando, A.; Basset, G.; Rosen, A.; Meenan, C.; Carlson, J.

1992-01-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, and identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain

A forecasting model of gaming revenues in Clark County, Nevada

Energy Technology Data Exchange (ETDEWEB)

Edwards, B.; Bando, A.; Bassett, G.; Rosen, A. [Argonne National Lab., IL (United States); Carlson, J.; Meenan, C. [Science Applications International Corp., Las Vegas, NV (United States)

1992-04-01

This paper describes the Western Area Gaming and Economic Response Simulator (WAGERS), a forecasting model that emphasizes the role of the gaming industry in Clark County, Nevada. It is designed to generate forecasts of gaming revenues in Clark County, whose regional economy is dominated by the gaming industry, an identify the exogenous variables that affect gaming revenues. This model will provide baseline forecasts of Clark County gaming revenues in order to assess changes in gaming related economic activity resulting from future events like the siting of a permanent high-level radioactive waste repository at Yucca Mountain.

Forecast Combination under Heavy-Tailed Errors

Directory of Open Access Journals (Sweden)

Gang Cheng

2015-11-01

Full Text Available Forecast combination has been proven to be a very important technique to obtain accurate predictions for various applications in economics, finance, marketing and many other areas. In many applications, forecast errors exhibit heavy-tailed behaviors for various reasons. Unfortunately, to our knowledge, little has been done to obtain reliable forecast combinations for such situations. The familiar forecast combination methods, such as simple average, least squares regression or those based on the variance-covariance of the forecasts, may perform very poorly due to the fact that outliers tend to occur, and they make these methods have unstable weights, leading to un-robust forecasts. To address this problem, in this paper, we propose two nonparametric forecast combination methods. One is specially proposed for the situations in which the forecast errors are strongly believed to have heavy tails that can be modeled by a scaled Student’s t-distribution; the other is designed for relatively more general situations when there is a lack of strong or consistent evidence on the tail behaviors of the forecast errors due to a shortage of data and/or an evolving data-generating process. Adaptive risk bounds of both methods are developed. They show that the resulting combined forecasts yield near optimal mean forecast errors relative to the candidate forecasts. Simulations and a real example demonstrate their superior performance in that they indeed tend to have significantly smaller prediction errors than the previous combination methods in the presence of forecast outliers.

Introduction to time series analysis and forecasting

CERN Document Server

Montgomery, Douglas C; Kulahci, Murat

2008-01-01

An accessible introduction to the most current thinking in and practicality of forecasting techniques in the context of time-oriented data. Analyzing time-oriented data and forecasting are among the most important problems that analysts face across many fields, ranging from finance and economics to production operations and the natural sciences. As a result, there is a widespread need for large groups of people in a variety of fields to understand the basic concepts of time series analysis and forecasting. Introduction to Time Series Analysis and Forecasting presents the time series analysis branch of applied statistics as the underlying methodology for developing practical forecasts, and it also bridges the gap between theory and practice by equipping readers with the tools needed to analyze time-oriented data and construct useful, short- to medium-term, statistically based forecasts.

Space-time wind speed forecasting for improved power system dispatch

KAUST Repository

Zhu, Xinxin

2014-02-27

To support large-scale integration of wind power into electric energy systems, state-of-the-art wind speed forecasting methods should be able to provide accurate and adequate information to enable efficient, reliable, and cost-effective scheduling of wind power. Here, we incorporate space-time wind forecasts into electric power system scheduling. First, we propose a modified regime-switching, space-time wind speed forecasting model that allows the forecast regimes to vary with the dominant wind direction and with the seasons, hence avoiding a subjective choice of regimes. Then, results from the wind forecasts are incorporated into a power system economic dispatch model, the cost of which is used as a loss measure of the quality of the forecast models. This, in turn, leads to cost-effective scheduling of system-wide wind generation. Potential economic benefits arise from the system-wide generation of cost savings and from the ancillary service cost savings. We illustrate the economic benefits using a test system in the northwest region of the United States. Compared with persistence and autoregressive models, our model suggests that cost savings from integration of wind power could be on the scale of tens of millions of dollars annually in regions with high wind penetration, such as Texas and the Pacific northwest. © 2014 Sociedad de Estadística e Investigación Operativa.

Structural Forecasts for the Danish Economy Using The Dynamic-AAGE Model

DEFF Research Database (Denmark)

Adams, Philip D; Andersen, Lill Thanning; Jacobsen, Lars Bo

2002-01-01

developed for MONASH has now been applied to Dynamic-AAGE to generate structural forecasts for the Danish economy. The starting point for the Dynamic-AAGE forecasts is a set of scenarios for the macro economy supplied by a specialist-forecasting agency, currently the Danish Economic Council. Expert...

Defining conservation priorities using fragmentation forecasts

Science.gov (United States)

David Wear; John Pye; Kurt H. Riitters

2004-01-01

Methods are developed for forecasting the effects of population and economic growth on the distribution of interior forest habitat. An application to the southeastern United States shows that models provide significant explanatory power with regard to the observed distribution of interior forest. Estimates for economic and biophysical variables are significant and...

Forecast of nuclear energetics

Energy Technology Data Exchange (ETDEWEB)

Sikora, W

1976-01-01

The forecast concerning the development of nuclear energetics is presented. Some information on economics of nuclear power plants is given. The nuclear fuel reserves are estimated on the background of power resources of the world. The safety and environment protection problems are mentioned.

How uncertainty in socio-economic variables affects large-scale transport model forecasts

DEFF Research Database (Denmark)

Manzo, Stefano; Nielsen, Otto Anker; Prato, Carlo Giacomo

2015-01-01

A strategic task assigned to large-scale transport models is to forecast the demand for transport over long periods of time to assess transport projects. However, by modelling complex systems transport models have an inherent uncertainty which increases over time. As a consequence, the longer...... the period forecasted the less reliable is the forecasted model output. Describing uncertainty propagation patterns over time is therefore important in order to provide complete information to the decision makers. Among the existing literature only few studies analyze uncertainty propagation patterns over...

Forecasting with nonlinear time series models

DEFF Research Database (Denmark)

Kock, Anders Bredahl; Teräsvirta, Timo

In this paper, nonlinear models are restricted to mean nonlinear parametric models. Several such models popular in time series econo- metrics are presented and some of their properties discussed. This in- cludes two models based on universal approximators: the Kolmogorov- Gabor polynomial model...... applied to economic fore- casting problems, is briefly highlighted. A number of large published studies comparing macroeconomic forecasts obtained using different time series models are discussed, and the paper also contains a small simulation study comparing recursive and direct forecasts in a partic...... and two versions of a simple artificial neural network model. Techniques for generating multi-period forecasts from nonlinear models recursively are considered, and the direct (non-recursive) method for this purpose is mentioned as well. Forecasting with com- plex dynamic systems, albeit less frequently...

Hybrid support vector regression and autoregressive integrated moving average models improved by particle swarm optimization for property crime rates forecasting with economic indicators.

Science.gov (United States)

Alwee, Razana; Shamsuddin, Siti Mariyam Hj; Sallehuddin, Roselina

2013-01-01

Crimes forecasting is an important area in the field of criminology. Linear models, such as regression and econometric models, are commonly applied in crime forecasting. However, in real crimes data, it is common that the data consists of both linear and nonlinear components. A single model may not be sufficient to identify all the characteristics of the data. The purpose of this study is to introduce a hybrid model that combines support vector regression (SVR) and autoregressive integrated moving average (ARIMA) to be applied in crime rates forecasting. SVR is very robust with small training data and high-dimensional problem. Meanwhile, ARIMA has the ability to model several types of time series. However, the accuracy of the SVR model depends on values of its parameters, while ARIMA is not robust to be applied to small data sets. Therefore, to overcome this problem, particle swarm optimization is used to estimate the parameters of the SVR and ARIMA models. The proposed hybrid model is used to forecast the property crime rates of the United State based on economic indicators. The experimental results show that the proposed hybrid model is able to produce more accurate forecasting results as compared to the individual models.

Hybrid Support Vector Regression and Autoregressive Integrated Moving Average Models Improved by Particle Swarm Optimization for Property Crime Rates Forecasting with Economic Indicators

Directory of Open Access Journals (Sweden)

Razana Alwee

2013-01-01

Full Text Available Crimes forecasting is an important area in the field of criminology. Linear models, such as regression and econometric models, are commonly applied in crime forecasting. However, in real crimes data, it is common that the data consists of both linear and nonlinear components. A single model may not be sufficient to identify all the characteristics of the data. The purpose of this study is to introduce a hybrid model that combines support vector regression (SVR and autoregressive integrated moving average (ARIMA to be applied in crime rates forecasting. SVR is very robust with small training data and high-dimensional problem. Meanwhile, ARIMA has the ability to model several types of time series. However, the accuracy of the SVR model depends on values of its parameters, while ARIMA is not robust to be applied to small data sets. Therefore, to overcome this problem, particle swarm optimization is used to estimate the parameters of the SVR and ARIMA models. The proposed hybrid model is used to forecast the property crime rates of the United State based on economic indicators. The experimental results show that the proposed hybrid model is able to produce more accurate forecasting results as compared to the individual models.

Electricity Demand Forecasting Using a Functional State Space Model

OpenAIRE

Nagbe , Komi; Cugliari , Jairo; Jacques , Julien

2018-01-01

In the last past years the liberalization of the electricity supply, the increase variability of electric appliances and their use, and the need to respond to the electricity demand in the real time had made electricity demand forecasting a challenge. To this challenge, many solutions are being proposed. The electricity demand involves many sources such as economic activities, household need and weather sources. All this sources make hard electricity demand forecasting. To forecast the electr...

The economic value of realized volatility

DEFF Research Database (Denmark)

Christoffersen, Peter; Feunou, Bruno; Jacobs, Kris

2014-01-01

Many studies have documented that daily realized volatility estimates based on intraday returns provide volatility forecasts that are superior to forecasts constructed from daily returns only. We investigate whether these forecasting improvements translate into economic value added. To do so, we ...

Price forecasting of day-ahead electricity markets using a hybrid forecast method

International Nuclear Information System (INIS)

Shafie-khah, M.; Moghaddam, M. Parsa; Sheikh-El-Eslami, M.K.

2011-01-01

Research highlights: → A hybrid method is proposed to forecast the day-ahead prices in electricity market. → The method combines Wavelet-ARIMA and RBFN network models. → PSO method is applied to obtain optimum RBFN structure for avoiding over fitting. → One of the merits of the proposed method is lower need to the input data. → The proposed method has more accurate behavior in compare with previous methods. -- Abstract: Energy price forecasting in a competitive electricity market is crucial for the market participants in planning their operations and managing their risk, and it is also the key information in the economic optimization of the electric power industry. However, price series usually have a complex behavior due to their nonlinearity, nonstationarity, and time variancy. In this paper, a novel hybrid method to forecast day-ahead electricity price is proposed. This hybrid method is based on wavelet transform, Auto-Regressive Integrated Moving Average (ARIMA) models and Radial Basis Function Neural Networks (RBFN). The wavelet transform provides a set of better-behaved constitutive series than price series for prediction. ARIMA model is used to generate a linear forecast, and then RBFN is developed as a tool for nonlinear pattern recognition to correct the estimation error in wavelet-ARIMA forecast. Particle Swarm Optimization (PSO) is used to optimize the network structure which makes the RBFN be adapted to the specified training set, reducing computation complexity and avoiding overfitting. The proposed method is examined on the electricity market of mainland Spain and the results are compared with some of the most recent price forecast methods. The results show that the proposed hybrid method could provide a considerable improvement for the forecasting accuracy.

Price forecasting of day-ahead electricity markets using a hybrid forecast method

Energy Technology Data Exchange (ETDEWEB)

Shafie-khah, M., E-mail: miadreza@gmail.co [Tarbiat Modares University, Tehran (Iran, Islamic Republic of); Moghaddam, M. Parsa, E-mail: parsa@modares.ac.i [Tarbiat Modares University, Tehran (Iran, Islamic Republic of); Sheikh-El-Eslami, M.K., E-mail: aleslam@modares.ac.i [Tarbiat Modares University, Tehran (Iran, Islamic Republic of)

2011-05-15

Research highlights: {yields} A hybrid method is proposed to forecast the day-ahead prices in electricity market. {yields} The method combines Wavelet-ARIMA and RBFN network models. {yields} PSO method is applied to obtain optimum RBFN structure for avoiding over fitting. {yields} One of the merits of the proposed method is lower need to the input data. {yields} The proposed method has more accurate behavior in compare with previous methods. -- Abstract: Energy price forecasting in a competitive electricity market is crucial for the market participants in planning their operations and managing their risk, and it is also the key information in the economic optimization of the electric power industry. However, price series usually have a complex behavior due to their nonlinearity, nonstationarity, and time variancy. In this paper, a novel hybrid method to forecast day-ahead electricity price is proposed. This hybrid method is based on wavelet transform, Auto-Regressive Integrated Moving Average (ARIMA) models and Radial Basis Function Neural Networks (RBFN). The wavelet transform provides a set of better-behaved constitutive series than price series for prediction. ARIMA model is used to generate a linear forecast, and then RBFN is developed as a tool for nonlinear pattern recognition to correct the estimation error in wavelet-ARIMA forecast. Particle Swarm Optimization (PSO) is used to optimize the network structure which makes the RBFN be adapted to the specified training set, reducing computation complexity and avoiding overfitting. The proposed method is examined on the electricity market of mainland Spain and the results are compared with some of the most recent price forecast methods. The results show that the proposed hybrid method could provide a considerable improvement for the forecasting accuracy.

Beating the random walk: a performance assessment of long-term interest rate forecasts

NARCIS (Netherlands)

den Butter, F.A.G.; Jansen, P.W.

2013-01-01

This article assesses the performance of a number of long-term interest rate forecast approaches, namely time series models, structural economic models, expert forecasts and combinations thereof. The predictive performance of these approaches is compared using outside sample forecast errors, where a

Space-time wind speed forecasting for improved power system dispatch

KAUST Repository

Zhu, Xinxin; Genton, Marc G.; Gu, Yingzhong; Xie, Le

2014-01-01

direction and with the seasons, hence avoiding a subjective choice of regimes. Then, results from the wind forecasts are incorporated into a power system economic dispatch model, the cost of which is used as a loss measure of the quality of the forecast

Appraisal of artificial neural network for forecasting of economic parameters

Science.gov (United States)

Kordanuli, Bojana; Barjaktarović, Lidija; Jeremić, Ljiljana; Alizamir, Meysam

2017-01-01

The main aim of this research is to develop and apply artificial neural network (ANN) with extreme learning machine (ELM) and back propagation (BP) to forecast gross domestic product (GDP) and Hirschman-Herfindahl Index (HHI). GDP could be developed based on combination of different factors. In this investigation GDP forecasting based on the agriculture and industry added value in gross domestic product (GDP) was analysed separately. Other inputs are final consumption expenditure of general government, gross fixed capital formation (investments) and fertility rate. The relation between product market competition and corporate investment is contentious. On one hand, the relation can be positive, but on the other hand, the relation can be negative. Several methods have been proposed to monitor market power for the purpose of developing procedures to mitigate or eliminate the effects. The most widely used methods are based on indices such as the Hirschman-Herfindahl Index (HHI). The reliability of the ANN models were accessed based on simulation results and using several statistical indicators. Based upon simulation results, it was presented that ELM shows better performances than BP learning algorithm in applications of GDP and HHI forecasting.

Short-term spatio-temporal wind power forecast in robust look-ahead power system dispatch

KAUST Repository

Xie, Le; Gu, Yingzhong; Zhu, Xinxin; Genton, Marc G.

2014-01-01

forecasts, the overall cost benefits on system dispatch can be quantified. We integrate the improved forecast with an advanced robust look-ahead dispatch framework. This integrated forecast and economic dispatch framework is tested in a modified IEEE RTS 24

Ontario demand forecast from January 2004 to December 2013

International Nuclear Information System (INIS)

2003-01-01

This document examined the demand forecast for electricity on the Independent Market Operator (IMO)-controlled grid in Ontario for the period 2004-2013. It serves as an assessment tool to determine whether existing and proposed generation and transmission facilities in the province will be sufficient to meet future electricity needs. Changes in methodology have been made to allow for an hourly peak versus the previously reported 20-minute peak value. Actual data through to the end of October 2002 was used to re-estimate energy demand. Compared to other developed countries, the outlook for the Canadian economy is optimistic. In addition, the economic forecast is better than that which formed the basis of the last ten-year forecast. Energy demand in the median growth scenario is increasing at an annual rate of 1.1 per cent rather than 0.9 per cent for the forecasted period of 2003-2012. The combination of a higher growth rate and a higher starting point results in a 2010 forecast of 168 TWh. It is expected that peak demand will grow faster than in the previous forecast. Summer peak demand averaging an annual growth of 1.3 per cent is forecasted for the period 2003-2012, with winter peak demand averaging a growth of 0.8 per cent. Under normal weather conditions, the electricity system is expected to peak in the summer of 2005 due to the continued demand for cooling load. However, under an extreme weather scenario, the system is already summer peaking. The improved economic outlook and higher starting point resulted in a higher forecast for energy. The electricity system is expected to winter peak during the first years of the forecasted period. The heating load is not expected to experience rapid growth in the next few years. 15 tabs., 14 figs

Energy demand forecasting method based on international statistical data

International Nuclear Information System (INIS)

Glanc, Z.; Kerner, A.

1997-01-01

Poland is in a transition phase from a centrally planned to a market economy; data collected under former economic conditions do not reflect a market economy. Final energy demand forecasts are based on the assumption that the economic transformation in Poland will gradually lead the Polish economy, technologies and modes of energy use, to the same conditions as mature market economy countries. The starting point has a significant influence on the future energy demand and supply structure: final energy consumption per capita in 1992 was almost half the average of OECD countries; energy intensity, based on Purchasing Power Parities (PPP) and referred to GDP, is more than 3 times higher in Poland. A method of final energy demand forecasting based on regression analysis is described in this paper. The input data are: output of macroeconomic and population growth forecast; time series 1970-1992 of OECD countries concerning both macroeconomic characteristics and energy consumption; and energy balance of Poland for the base year of the forecast horizon. (author). 1 ref., 19 figs, 4 tabs

Energy demand forecasting method based on international statistical data

Energy Technology Data Exchange (ETDEWEB)

Glanc, Z; Kerner, A [Energy Information Centre, Warsaw (Poland)

1997-09-01

Poland is in a transition phase from a centrally planned to a market economy; data collected under former economic conditions do not reflect a market economy. Final energy demand forecasts are based on the assumption that the economic transformation in Poland will gradually lead the Polish economy, technologies and modes of energy use, to the same conditions as mature market economy countries. The starting point has a significant influence on the future energy demand and supply structure: final energy consumption per capita in 1992 was almost half the average of OECD countries; energy intensity, based on Purchasing Power Parities (PPP) and referred to GDP, is more than 3 times higher in Poland. A method of final energy demand forecasting based on regression analysis is described in this paper. The input data are: output of macroeconomic and population growth forecast; time series 1970-1992 of OECD countries concerning both macroeconomic characteristics and energy consumption; and energy balance of Poland for the base year of the forecast horizon. (author). 1 ref., 19 figs, 4 tabs.

Japan's actual energy supply/demand in 1986 and background - drastically changing economic/energy situations upset plans and forecasts by a wide margin

Energy Technology Data Exchange (ETDEWEB)

Fujime, K

1987-05-01

In 1986 the value of the yen soared and there was a lowering of interest rates and a slump in crude oil prices. These drastic changes in economic/energy situations brought about a completely different picture of Japan's energy supply and demand from originally expected. Energy demand from large industrial users was lowered and impacts of price fluctuations on energy supply and demand were uneven. Topics covered in the paper are: economic/industrial trends; energy price trends; actual energy supply and demand including electricity, oil, town gas, coal and LNG (liquefied natural gas); trends of major energy-consuming industries and energy consumption including steel industry, paper/pulp industry, cement industry and petrochemical industry; plans/forecasts completely off the track due to drastically changing economic/energy situations.

Long-term economic outlook. Annual review

Energy Technology Data Exchange (ETDEWEB)

1988-01-01

This review provides economic growth forecast tables for Ontario, Canada, the US, Western Europe, and Japan. Economic growth, government policy, the long-term prospects for inflation, interest rates and foreign exchange rates, trends in the Canadian dollar, and energy markets and prices are also reviewed. Data generally cover 1965-2025. Appendices give a summary of historical and forecast data. 18 figs., 16 tabs.

Functional dynamic factor models with application to yield curve forecasting

KAUST Repository

Hays, Spencer

2012-09-01

Accurate forecasting of zero coupon bond yields for a continuum of maturities is paramount to bond portfolio management and derivative security pricing. Yet a universal model for yield curve forecasting has been elusive, and prior attempts often resulted in a trade-off between goodness of fit and consistency with economic theory. To address this, herein we propose a novel formulation which connects the dynamic factor model (DFM) framework with concepts from functional data analysis: a DFM with functional factor loading curves. This results in a model capable of forecasting functional time series. Further, in the yield curve context we show that the model retains economic interpretation. Model estimation is achieved through an expectation- maximization algorithm, where the time series parameters and factor loading curves are simultaneously estimated in a single step. Efficient computing is implemented and a data-driven smoothing parameter is nicely incorporated. We show that our model performs very well on forecasting actual yield data compared with existing approaches, especially in regard to profit-based assessment for an innovative trading exercise. We further illustrate the viability of our model to applications outside of yield forecasting.

Value of Improved Wind Power Forecasting in the Western Interconnection (Poster)

Energy Technology Data Exchange (ETDEWEB)

Hodge, B.

2013-12-01

Wind power forecasting is a necessary and important technology for incorporating wind power into the unit commitment and dispatch process. It is expected to become increasingly important with higher renewable energy penetration rates and progress toward the smart grid. There is consensus that wind power forecasting can help utility operations with increasing wind power penetration; however, there is far from a consensus about the economic value of improved forecasts. This work explores the value of improved wind power forecasting in the Western Interconnection of the United States.

Statistical and RBF NN models : providing forecasts and risk assessment

OpenAIRE

Marček, Milan

2009-01-01

Forecast accuracy of economic and financial processes is a popular measure for quantifying the risk in decision making. In this paper, we develop forecasting models based on statistical (stochastic) methods, sometimes called hard computing, and on a soft method using granular computing. We consider the accuracy of forecasting models as a measure for risk evaluation. It is found that the risk estimation process based on soft methods is simplified and less critical to the question w...

Application of grafted polynomial function in forecasting cotton ...

African Journals Online (AJOL)

A study was conducted to forecast cotton production trend with the application of a grafted polynomial function in Nigeria from 1985 through 2013. Grafted models are used in econometrics to embark on economic analysis involving time series. In economic time series, the paucity of data and their availability has always ...

Economic and demographic outlook

International Nuclear Information System (INIS)

Darby, P.M.

1995-01-01

Economic forecasts were produced and past trends were examined. Information was presented as a series of figures only, without accompanying text. Information provided included current exchange rates, economic growth, interest rates, housing starts, unemployment rates, personal savings rates and other economic indicators. 40 figs

Forecasting metal prices: Do forecasters herd?

DEFF Research Database (Denmark)

Pierdzioch, C.; Rulke, J. C.; Stadtmann, G.

2013-01-01

We analyze more than 20,000 forecasts of nine metal prices at four different forecast horizons. We document that forecasts are heterogeneous and report that anti-herding appears to be a source of this heterogeneity. Forecaster anti-herding reflects strategic interactions among forecasters...

Does money matter in inflation forecasting?

Science.gov (United States)

Binner, J. M.; Tino, P.; Tepper, J.; Anderson, R.; Jones, B.; Kendall, G.

2010-11-01

This paper provides the most fully comprehensive evidence to date on whether or not monetary aggregates are valuable for forecasting US inflation in the early to mid 2000s. We explore a wide range of different definitions of money, including different methods of aggregation and different collections of included monetary assets. In our forecasting experiment we use two nonlinear techniques, namely, recurrent neural networks and kernel recursive least squares regression-techniques that are new to macroeconomics. Recurrent neural networks operate with potentially unbounded input memory, while the kernel regression technique is a finite memory predictor. The two methodologies compete to find the best fitting US inflation forecasting models and are then compared to forecasts from a naïve random walk model. The best models were nonlinear autoregressive models based on kernel methods. Our findings do not provide much support for the usefulness of monetary aggregates in forecasting inflation. Beyond its economic findings, our study is in the tradition of physicists’ long-standing interest in the interconnections among statistical mechanics, neural networks, and related nonparametric statistical methods, and suggests potential avenues of extension for such studies.

Reducing uncertainty in load forecasts and using real options for improving capacity dispatch management through the utilization of weather and hydrologic forecasts

International Nuclear Information System (INIS)

Davis, T.

2004-01-01

The effect of weather on electricity markets was discussed with particular focus on reducing weather uncertainty by improving short term weather forecasts. The implications of weather for hydroelectric power dispatch and use were also discussed. Although some errors in weather forecasting can result in economic benefits, most errors are associated with more costs than benefits. This presentation described how a real options analysis can make weather a favorable option. Four case studies were presented for exploratory data analysis of regional weather phenomena. These included: (1) the 2001 California electricity crisis, (2) the delta breeze effects on the California ISO, (3) the summer 2002 weather forecast error for ISO New England, and (4) the hydro plant asset valuation using weather uncertainty. It was concluded that there is a need for more economic methodological studies on the effect of weather on energy markets and costs. It was suggested that the real options theory should be applied to weather planning and utility applications. tabs., figs

The case for better PV forecasting

DEFF Research Database (Denmark)

Alet, Pierre-Jean; Efthymiou, Venizelos; Graditi, Giorgio

2016-01-01

Rising levels of PV penetration mean increasingly sophisticated forecasting technologies are needed to maintain grid stability and maximise the economic value of PV systems. The Grid Integration working group of the European Technology and Innovation Platform – Photovoltaics (ETIP PV) shares the ...

Enhanced short-term wind power forecasting and value to grid operations. The wind forecasting improvement project

Energy Technology Data Exchange (ETDEWEB)

Orwig, Kirsten D. [National Renewable Energy Laboratory (NREL), Golden, CO (United States). Transmission Grid Integration; Benjamin, Stan; Wilczak, James; Marquis, Melinda [National Oceanic and Atmospheric Administration, Boulder, CO (United States). Earth System Research Lab.; Stern, Andrew [National Oceanic and Atmospheric Administration, Silver Spring, MD (United States); Clark, Charlton; Cline, Joel [U.S. Department of Energy, Washington, DC (United States). Wind and Water Power Program; Finley, Catherine [WindLogics, Grand Rapids, MN (United States); Freedman, Jeffrey [AWS Truepower, Albany, NY (United States)

2012-07-01

The current state-of-the-art wind power forecasting in the 0- to 6-h timeframe has levels of uncertainty that are adding increased costs and risks to the U.S. electrical grid. It is widely recognized within the electrical grid community that improvements to these forecasts could greatly reduce the costs and risks associated with integrating higher penetrations of wind energy. The U.S. Department of Energy has sponsored a research campaign in partnership with the National Oceanic and Atmospheric Administration (NOAA) and private industry to foster improvements in wind power forecasting. The research campaign involves a three-pronged approach: (1) a one-year field measurement campaign within two regions; (2) enhancement of NOAA's experimental 3-km High-Resolution Rapid Refresh (HRRR) model by assimilating the data from the field campaign; and (3) evaluation of the economic and reliability benefits of improved forecasts to grid operators. This paper and presentation provide an overview of the regions selected, instrumentation deployed, data quality and control, assimilation of data into HRRR, and preliminary results of HRRR performance analysis. (orig.)

Forecasting carbon dioxide emissions.

Science.gov (United States)

Zhao, Xiaobing; Du, Ding

2015-09-01

This study extends the literature on forecasting carbon dioxide (CO2) emissions by applying the reduced-form econometrics approach of Schmalensee et al. (1998) to a more recent sample period, the post-1997 period. Using the post-1997 period is motivated by the observation that the strengthening pace of global climate policy may have been accelerated since 1997. Based on our parameter estimates, we project 25% reduction in CO2 emissions by 2050 according to an economic and population growth scenario that is more consistent with recent global trends. Our forecasts are conservative due to that we do not have sufficient data to fully take into account recent developments in the global economy. Copyright © 2015 Elsevier Ltd. All rights reserved.

The intersections between TRIZ and forecasting methodology

Directory of Open Access Journals (Sweden)

Georgeta BARBULESCU

2010-12-01

Full Text Available The authors’ intention is to correlate the basic knowledge in using the TRIZ methodology (Theory of Inventive Problem Solving or in Russian: Teoriya Resheniya Izobretatelskikh Zadatch as a problem solving tools meant to help the decision makers to perform more significant forecasting exercises. The idea is to identify the TRIZ features and instruments (40 inventive principles, i.e. for putting in evidence the noise and signal problem, for trend identification (qualitative and quantitative tendencies and support tools in technological forecasting, to make the decision-makers able to refine and to increase the level of confidence in the forecasting results. The interest in connecting TRIZ to forecasting methodology, nowadays, relates to the massive application of TRIZ methods and techniques for engineering system development world-wide and in growing application of TRIZ’s concepts and paradigms for improvements of non-engineering systems (including the business and economic applications.

How to judge the quality and value of weather forecast products

Science.gov (United States)

Thornes, John E.; Stephenson, David B.

2001-09-01

In order to decide whether or not a weather service supplier is giving good value for money we need to monitor the quality of the forecasts and the use that is made of the forecasts to estimate their value. A number of verification statistics are examined to measure the quality of forecasts - including Miss Rate, False Alarm Rate, the Peirce Skill Score and the Odds Ratio Skill Score - and a means of testing the significance of these values is presented. In order to assess the economic value of the forecasts a value index is suggested that takes into account the cost-loss ratio and forecast errors. It is suggested that a combination of these quality and value statistics could be used by weather forecast customers to choose the best forecast provider and to set limits for performance related contracts.

1991 Pacific Northwest loads and resources study, Pacific Northwest economic and electricity use forecast

International Nuclear Information System (INIS)

1992-01-01

This publication provides detailed documentation of the load forecast scenarios and assumptions used in preparing BPA's 1991 Pacific Northwest Loads and Resources Study (the Study). This is one of two technical appendices to the Study; the other appendix details the utility-specific loads and resources used in the Study. The load forecasts and assumption were developed jointly by Bonneville Power Administration (BPA) and Northwest Power Planning Council (Council) staff. This forecast is also used in the Council's 1991 Northwest Conservation and Electric Power Plan (1991 Plan)

Estimating the benefits of single value and probability forecasting for flood warning

Directory of Open Access Journals (Sweden)

J. S. Verkade

2011-12-01

Full Text Available Flood risk can be reduced by means of flood forecasting, warning and response systems (FFWRS. These systems include a forecasting sub-system which is imperfect, meaning that inherent uncertainties in hydrological forecasts may result in false alarms and missed events. This forecasting uncertainty decreases the potential reduction of flood risk, but is seldom accounted for in estimates of the benefits of FFWRSs. In the present paper, a method to estimate the benefits of (imperfect FFWRSs in reducing flood risk is presented. The method is based on a hydro-economic model of expected annual damage (EAD due to flooding, combined with the concept of Relative Economic Value (REV. The estimated benefits include not only the reduction of flood losses due to a warning response, but also consider the costs of the warning response itself, as well as the costs associated with forecasting uncertainty. The method allows for estimation of the benefits of FFWRSs that use either deterministic or probabilistic forecasts. Through application to a case study, it is shown that FFWRSs using a probabilistic forecast have the potential to realise higher benefits at all lead-times. However, it is also shown that provision of warning at increasing lead-time does not necessarily lead to an increasing reduction of flood risk, but rather that an optimal lead-time at which warnings are provided can be established as a function of forecast uncertainty and the cost-loss ratio of the user receiving and responding to the warning.

The energy markets to 1995 - sector demand forecasts and summary. [United Kingdom

Energy Technology Data Exchange (ETDEWEB)

Buckley, J

1983-01-01

Energy demand forecasts are often based on assumptions which are uncertain and dependent upon both political and economic factors. However, there is a need for long-term energy forecasting for the benefit of industry and commerce. CIRS (Cambridge Information and Research Services Limited) have tried to fulfill this need, based on forecasts of useful heat demand sector by sector which are then converted to heat energy supply and primary requirements. The first such forecast was produced in 1975. This 1983 updated projection examines coal, oil and gas supplies in the UK to the year 1995.

Short-term Probabilistic Load Forecasting with the Consideration of Human Body Amenity

Directory of Open Access Journals (Sweden)

Ning Lu

2013-02-01

Full Text Available Load forecasting is the basis of power system planning and design. It is important for the economic operation and reliability assurance of power system. However, the results of load forecasting given by most existing methods are deterministic. This study aims at probabilistic load forecasting. First, the support vector machine regression is used to acquire the deterministic results of load forecasting with the consideration of human body amenity. Then the probabilistic load forecasting at a certain confidence level is given after the analysis of error distribution law corresponding to certain heat index interval. The final simulation shows that this probabilistic forecasting method is easy to implement and can provide more information than the deterministic forecasting results, and thus is helpful for decision-makers to make reasonable decisions.

Forecasting the Romanian sectoral economy using the input-output method

Directory of Open Access Journals (Sweden)

Liliana DUGULEANĂ

2017-07-01

Full Text Available The purpose of this paper is to forecast the sectoral output in 2013 based on the input-output structure of Romanian economy in 2010. Considering that the economic linkage mechanisms do not easily change during certain time periods, the forecasting is possible, even if not in the sequence of the time passing. Using the technical matrix of the sectoral structure described for year 2010 and some known indicators of the economic sectors, as the value added for each sector in 2013, the sectoral output is projected for 2013. The Romanian GDP in 2013 is estimated based on the input-output model. From a managerial perspective, this study is useful to forecast the sectoral output and to understand the sectoral behaviour, based on the input-output analysis of the value added, the compensation for employees and the final demand, which were considered here.

Generation Mix Study Focusing on Nuclear Power by Practical Peak Forecast

International Nuclear Information System (INIS)

Shin, Jung Ho; Roh, Myung Sub

2013-01-01

The excessive underestimation can lead to a range of problem; expansion of LNG plant requiring short construction period, the following increase of electricity price, low reserve margin and inefficient configuration of power source. With regard to nuclear power, the share of the stable and economic base load plant, nuclear power, can reduce under the optimum level. Amongst varied factors which contribute to the underestimate, immoderate target for demand side management (DSM) including double deduction of the constraint amount by DSM from peak demand forecast is one of the causes. The hypothesis in this study is that the better optimum generation mix including the adequate share of nuclear power can be obtained under the condition of the peak demand forecast without deduction of DSM target because this forecast is closer to the actual peak demand. In this study, the hypothesis is verified with comparison between peak demand forecast before (or after) DSM target application and the actual peak demand in the 3 rd through 5 th BPE from 2006 to 2010. Furthermore, this research compares and analyzes several generation mix in 2027 focusing on the nuclear power by a few conditions using the WASP-IV program on the basis of the 6 th BPE in 2013. According to the comparative analysis on the peak demand forecast and actual peak demand from 2006 to 2010, the peak demand forecasts without the deduction of the DSM target is closer to the actual peak demand than the peak demand forecasts considering the DSM target in the 3 th , 4 th , 5 th entirely. In addition, the generation mix until 2027 is examined by the WASP-IV. As a result of the program run, when considering the peak demand forecast without DSM reflection, since the base load plants including nuclear power take up adequate proportion, stable and economic supply of electricity can be achieved. On the contrary, in case of planning based on the peak demand forecast with DSM reflected and then compensating the shortage by

Forecasting military expenditure

Directory of Open Access Journals (Sweden)

Tobias Böhmelt

2014-05-01

Full Text Available To what extent do frequently cited determinants of military spending allow us to predict and forecast future levels of expenditure? The authors draw on the data and specifications of a recent model on military expenditure and assess the predictive power of its variables using in-sample predictions, out-of-sample forecasts and Bayesian model averaging. To this end, this paper provides guidelines for prediction exercises in general using these three techniques. More substantially, however, the findings emphasize that previous levels of military spending as well as a country’s institutional and economic characteristics particularly improve our ability to predict future levels of investment in the military. Variables pertaining to the international security environment also matter, but seem less important. In addition, the results highlight that the updated model, which drops weak predictors, is not only more parsimonious, but also slightly more accurate than the original specification.

Fuzzy approach for short term load forecasting

Energy Technology Data Exchange (ETDEWEB)

Chenthur Pandian, S.; Duraiswamy, K.; Kanagaraj, N. [Electrical and Electronics Engg., K.S. Rangasamy College of Technology, Tiruchengode 637209, Tamil Nadu (India); Christober Asir Rajan, C. [Department of Electrical and Electronics Engineering, Pondicherry Engineering College, Pondicherry (India)

2006-04-15

The main objective of short term load forecasting (STLF) is to provide load predictions for generation scheduling, economic load dispatch and security assessment at any time. The STLF is needed to supply necessary information for the system management of day-to-day operations and unit commitment. In this paper, the 'time' and 'temperature' of the day are taken as inputs for the fuzzy logic controller and the 'forecasted load' is the output. The input variable 'time' has been divided into eight triangular membership functions. The membership functions are Mid Night, Dawn, Morning, Fore Noon, After Noon, Evening, Dusk and Night. Another input variable 'temperature' has been divided into four triangular membership functions. They are Below Normal, Normal, Above Normal and High. The 'forecasted load' as output has been divided into eight triangular membership functions. They are Very Low, Low, Sub Normal, Moderate Normal, Normal, Above Normal, High and Very High. Case studies have been carried out for the Neyveli Thermal Power Station Unit-II (NTPS-II) in India. The fuzzy forecasted load values are compared with the conventional forecasted values. The forecasted load closely matches the actual one within +/-3%. (author)

Forecasting of CO2 emissions, energy consumption and economic growth in China using an improved grey model

International Nuclear Information System (INIS)

Pao, Hsiao-Tien; Fu, Hsin-Chia; Tseng, Cheng-Lung

2012-01-01

Analyses and forecasts of carbon emissions, energy consumption and real outputs are key requirements for clean energy economy and climate change in rapid growth market such as China. This paper employs the nonlinear grey Bernoulli model (NGBM) to predict these three indicators and proposes a numerical iterative method to optimize the parameter of NGBM. The forecasting ability of NGBM with optimal parameter model, namely NGBM−OP has remarkably improved, compared to the GM and ARIMA. The MAPEs of NGBM−OP for out-of-sample (2004–2009) are ranging from 1.10 to 6.26. The prediction results show that China’s compound annual emissions, energy consumption and real GDP growth is set to 4.47%, −0.06% and 6.67%, respectively between 2011 and 2020. The co-integration results show that the long-run equilibrium relationship exists among these three indicators and emissions appear to be real output inelastic and energy consumption elastic. The estimated values cannot support an EKC hypothesis, and real output is significantly negative impact on emissions. In order to promote economic and environmental quality, the results suggest that China should adopt the dual strategy of increasing energy efficiency, reducing the loss in power transmission and distribution and stepping up energy conservation policies to reduce any unnecessary wastage of energy. -- Highlights: ► The proposed NGBM-OP has a strong forecasting ability with MAPEs less than 6.3%. ► The NGBM-OP is applied to predict emissions, energy and output during 2009–2020. ► Prediction results show China will actively conserve resources and protect the environment. ► The long-run equilibrium relationship exists between emissions, energy and output. ► Emissions appear to be output inelastic and energy consumption elastic.

The BCRA’s Small Economic Model

OpenAIRE

Pedro Elosegui; Guillermo Escudé; Lorena Garegnani; Juan Martín Sotes Paladino

2007-01-01

The use of macroeconomic forecasting models is a common practice in central banks for monetary policy design, for the analysis of the current economic developments and for medium and long term forecasts. Among those models, the small-scale macroeconomic models stand out. Though relatively simple, they are structured and take into account the transmission mechanisms that relate the main variables of interest: the interest rate, the exchange rate, GDP and inflation. The Small Economic Model (ME...

On Forecasting Macro-Economic Indicators with the Help of Finite-Difference Equations and Econometric Methods

Directory of Open Access Journals (Sweden)

Polshkov Yulian M.

2013-11-01

Full Text Available The article considers data on the gross domestic product, consumer expenditures, gross investments and volume of foreign trade for the national economy. It is assumed that time is a discrete variable with one year iteration. The article uses finite-difference equations. It considers models with a high degree of the regulatory function of the state with respect to the consumer market. The econometric component is based on the hypothesis that each of the above said macro-economic indicators for this year depends on the gross domestic product for the previous time periods. Such an assumption gives a possibility to engage the least-squares method for building up linear models of the pair regression. The article obtains the time series model, which allows building point and interval forecasts for the gross domestic product for the next year based on the values of the gross domestic product for the current and previous years. The article draws a conclusion that such forecasts could be considered justified at least in the short-term prospect. From the mathematical point of view the built model is a heterogeneous finite-difference equation of the second order with constant ratios. The article describes specific features of such equations. It illustrates graphically the analytical view of solutions of the finite-difference equation. This gives grounds to differentiate national economies as sustainable growth economies, one-sided, weak or being in the stage of successful re-formation. The article conducts comparison of the listed types with specific economies of modern states.

Verification of Global Radiation Forecasts from the Ensemble Prediction System at DMI

DEFF Research Database (Denmark)

Lundholm, Sisse Camilla

To comply with an increasing demand for sustainable energy sources, a solar heating unit is being developed at the Technical University of Denmark. To make optimal use — environmentally and economically —, this heating unit is equipped with an intelligent control system using forecasts of the heat...... consumption of the house and the amount of available solar energy. In order to make the most of this solar heating unit, accurate forecasts of the available solar radiation are esstential. However, because of its sensitivity to local meteorological conditions, the solar radiation received at the surface...... of the Earth can be highly fluctuating and challenging to forecast accurately. To comply with the accuracy requirements to forecasts of both global, direct, and diffuse radiation, the uncertainty of these forecasts is of interest. Forecast uncertainties can become accessible by running an ensemble of forecasts...

Energy and electricity demand forecasting for nuclear power planning in developing countries

International Nuclear Information System (INIS)

1988-07-01

This Guidebook is designed to be a reference document to forecast energy and electricity demand. It presents concepts and methodologies that have been developed to make an analytical approach to energy/electricity demand forecasting as part of the planning process. The Guidebook is divided into 6 main chapters: (Energy demand and development, energy demand analysis, electric load curve analysis, energy and electricity demand forecasting, energy and electricity demand forecasting tools used in various organizations, IAEA methodologies for energy and electricity demand forecasting) and 3 appendices (experience with case studies carried out by the IAEA, reference technical data, reference economic data). A bibliography and a glossary complete the Guidebook. Refs, figs and tabs

THE ACCURACY AND BIAS EVALUATION OF THE USA UNEMPLOYMENT RATE FORECASTS. METHODS TO IMPROVE THE FORECASTS ACCURACY

Directory of Open Access Journals (Sweden)

MIHAELA BRATU (SIMIONESCU

2012-12-01

Full Text Available In this study some alternative forecasts for the unemployment rate of USA made by four institutions (International Monetary Fund (IMF, Organization for Economic Co-operation and Development (OECD, Congressional Budget Office (CBO and Blue Chips (BC are evaluated regarding the accuracy and the biasness. The most accurate predictions on the forecasting horizon 201-2011 were provided by IMF, followed by OECD, CBO and BC.. These results were gotten using U1 Theil’s statistic and a new method that has not been used before in literature in this context. The multi-criteria ranking was applied to make a hierarchy of the institutions regarding the accuracy and five important accuracy measures were taken into account at the same time: mean errors, mean squared error, root mean squared error, U1 and U2 statistics of Theil. The IMF, OECD and CBO predictions are unbiased. The combined forecasts of institutions’ predictions are a suitable strategy to improve the forecasts accuracy of IMF and OECD forecasts when all combination schemes are used, but INV one is the best. The filtered and smoothed original predictions based on Hodrick-Prescott filter, respectively Holt-Winters technique are a good strategy of improving only the BC expectations. The proposed strategies to improve the accuracy do not solve the problem of biasness. The assessment and improvement of forecasts accuracy have an important contribution in growing the quality of decisional process.

Coal production forecast and low carbon policies in China

International Nuclear Information System (INIS)

Wang Jianzhou; Dong Yao; Wu Jie; Mu Ren; Jiang He

2011-01-01

With rapid economic growth and industrial expansion, China consumes more coal than any other nation. Therefore, it is particularly crucial to forecast China's coal production to help managers make strategic decisions concerning China's policies intended to reduce carbon emissions and concerning the country's future needs for domestic and imported coal. Such decisions, which must consider results from forecasts, will have important national and international effects. This article proposes three improved forecasting models based on grey systems theory: the Discrete Grey Model (DGM), the Rolling DGM (RDGM), and the p value RDGM. We use the statistical data of coal production in China from 1949 to 2005 to validate the effectiveness of these improved models to forecast the data from 2006 to 2010. The performance of the models demonstrates that the p value RDGM has the best forecasting behaviour over this historical time period. Furthermore, this paper forecasts coal production from 2011 to 2015 and suggests some policies for reducing carbon and other emissions that accompany the rise in forecasted coal production. - Highlights: → Improved forecasting models make full use of the advantages of individual model. → Proposed models create commendable improvements for current research. → Proposed models do not make complicated decisions about the explicit form. → We forecast coal production of China from 2011 to 2015. → We suggest some policies for reducing carbon emissions.

Coal production forecast and low carbon policies in China

Energy Technology Data Exchange (ETDEWEB)

Wang Jianzhou [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China); Dong Yao, E-mail: dongyao20051987@yahoo.cn [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China); Wu Jie; Mu Ren; Jiang He [School of Mathematics and Statistics, Lanzhou University, Lanzhou 730000 (China)

2011-10-15

With rapid economic growth and industrial expansion, China consumes more coal than any other nation. Therefore, it is particularly crucial to forecast China's coal production to help managers make strategic decisions concerning China's policies intended to reduce carbon emissions and concerning the country's future needs for domestic and imported coal. Such decisions, which must consider results from forecasts, will have important national and international effects. This article proposes three improved forecasting models based on grey systems theory: the Discrete Grey Model (DGM), the Rolling DGM (RDGM), and the p value RDGM. We use the statistical data of coal production in China from 1949 to 2005 to validate the effectiveness of these improved models to forecast the data from 2006 to 2010. The performance of the models demonstrates that the p value RDGM has the best forecasting behaviour over this historical time period. Furthermore, this paper forecasts coal production from 2011 to 2015 and suggests some policies for reducing carbon and other emissions that accompany the rise in forecasted coal production. - Highlights: > Improved forecasting models make full use of the advantages of individual model. > Proposed models create commendable improvements for current research. > Proposed models do not make complicated decisions about the explicit form. > We forecast coal production of China from 2011 to 2015. > We suggest some policies for reducing carbon emissions.

Application of seasonal rainfall forecasts and satellite rainfall observations to crop yield forecasting for Africa

Science.gov (United States)

Greatrex, H. L.; Grimes, D. I. F.; Wheeler, T. R.

2009-04-01

Rain-fed agriculture is of utmost importance in sub-Saharan Africa; the FAO estimates that over 90% of food consumed in the region is grown in rain-fed farming systems. As the climate in sub-Saharan Africa has a high interannual variability, this dependence on rainfall can leave communities extremely vulnerable to food shortages, especially when coupled with a lack of crop management options. The ability to make a regional forecast of crop yield on a timescale of months would be of enormous benefit; it would enable both governmental and non-governmental organisations to be alerted in advance to crop failure and could facilitate national and regional economic planning. Such a system would also enable individual communities to make more informed crop management decisions, increasing their resilience to climate variability and change. It should be noted that the majority of crops in the region are rainfall limited, therefore the ability to create a seasonal crop forecast depends on the ability to forecast rainfall at a monthly or seasonal timescale and to temporally downscale this to a daily time-series of rainfall. The aim of this project is to develop a regional-scale seasonal forecast for sub-Saharan crops, utilising the General Large Area Model for annual crops (GLAM). GLAM would initially be driven using both dynamical and statistical seasonal rainfall forecasts to provide an initial estimate of crop yield. The system would then be continuously updated throughout the season by replacing the seasonal rainfall forecast with daily weather observations. TAMSAT satellite rainfall estimates are used rather than rain-gauge data due to the scarcity of ground based observations. An important feature of the system is the use of the geo-statistical method of sequential simulation to create an ensemble of daily weather inputs from both the statistical seasonal rainfall forecasts and the satellite rainfall estimates. This allows a range of possible yield outputs to be

Teaching Economic Forecasting to Undergraduates.

Science.gov (United States)

Donihue, Michael R.

1995-01-01

Contends that academic departments have come under increasing scrutiny in terms of the scope of curriculum and teaching methods. Describes a senior undergraduate economics course in which the primary objective was to give students opportunities to combine theoretical training with quantitative skills and apply them to real-world problems. (CFR)

Mid-term report on Renewable Energy Forecasting System

International Nuclear Information System (INIS)

Brand, A.J.; Hegberg, T.; Van der Borg, N.J.C.M.; Kok, J.K.; Van Selow, E.R.; Kamphuis, I.G.; De Noord, M.; Van Sambeek, E.J.W.

2001-04-01

The most important conclusions on the economical and technical feasibility of renewable energy forecasting systems are presented, next to recommendations to be followed in order to introduce such a system in the Dutch electricity market. 11 refs

Nuclear power economic database

International Nuclear Information System (INIS)

Ding Xiaoming; Li Lin; Zhao Shiping

1996-01-01

Nuclear power economic database (NPEDB), based on ORACLE V6.0, consists of three parts, i.e., economic data base of nuclear power station, economic data base of nuclear fuel cycle and economic database of nuclear power planning and nuclear environment. Economic database of nuclear power station includes data of general economics, technique, capital cost and benefit, etc. Economic database of nuclear fuel cycle includes data of technique and nuclear fuel price. Economic database of nuclear power planning and nuclear environment includes data of energy history, forecast, energy balance, electric power and energy facilities

Modeling and forecasting the CO2 emissions, energy consumption, and economic growth in Brazil

International Nuclear Information System (INIS)

Pao, Hsiao-Tien; Tsai, Chung-Ming

2011-01-01

This paper examines the dynamic relationships between pollutant emissions, energy consumption, and the output for Brazil during 1980-2007. The Grey prediction model (GM) is applied to predict three variables during 2008-2013. In the long-run equilibrium emissions appear to be both energy consumption and output inelastic, but energy is a more important determinant of emissions than output. This may be because Brazilian unsustainable land use and forestry contribute most to the country's greenhouse gas emissions. The findings of the inverted U-shaped relationships of both emissions-income and energy consumption-income imply that both environmental damage and energy consumption firstly increase with income, then stabilize, and eventually decline. The causality results indicate that there is a bidirectional strong causality running between income, energy consumption and emissions. In order to reduce emissions and to avoid a negative effect on the economic growth, Brazil should adopt the dual strategy of increasing investment in energy infrastructure and stepping up energy conservation policies to increase energy efficiency and reduce wastage of energy. The forecasting ability of GM is compared with the autoregressive integrated moving average (ARIMA) model over the out-of-sample period between 2002 and 2007. All of the optimal GMs and ARIMAs have a strong forecasting performance with MAPEs of less than 3%. -- Highlights: → Emissions are energy consumption and output inelastic, but energy is a more important determinant of emissions than output. → The relationship between emissions and income is an inverted U-shaped curve. → The relationship between consumption and income is an inverted U-shaped curve. → The causality results indicate that there is a bidirectional strong causality running between income, energy consumption and emissions. → The Grey prediction model is applied to predict emissions, energy consumption and output during 2008-2013.

Generation Mix Study Focusing on Nuclear Power by Practical Peak Forecast

Energy Technology Data Exchange (ETDEWEB)

Shin, Jung Ho; Roh, Myung Sub [KEPCO International Nuclear Graduate School, Ulsan (Korea, Republic of)

2013-10-15

The excessive underestimation can lead to a range of problem; expansion of LNG plant requiring short construction period, the following increase of electricity price, low reserve margin and inefficient configuration of power source. With regard to nuclear power, the share of the stable and economic base load plant, nuclear power, can reduce under the optimum level. Amongst varied factors which contribute to the underestimate, immoderate target for demand side management (DSM) including double deduction of the constraint amount by DSM from peak demand forecast is one of the causes. The hypothesis in this study is that the better optimum generation mix including the adequate share of nuclear power can be obtained under the condition of the peak demand forecast without deduction of DSM target because this forecast is closer to the actual peak demand. In this study, the hypothesis is verified with comparison between peak demand forecast before (or after) DSM target application and the actual peak demand in the 3{sup rd} through 5{sup th} BPE from 2006 to 2010. Furthermore, this research compares and analyzes several generation mix in 2027 focusing on the nuclear power by a few conditions using the WASP-IV program on the basis of the 6{sup th} BPE in 2013. According to the comparative analysis on the peak demand forecast and actual peak demand from 2006 to 2010, the peak demand forecasts without the deduction of the DSM target is closer to the actual peak demand than the peak demand forecasts considering the DSM target in the 3{sup th}, 4{sup th}, 5{sup th} entirely. In addition, the generation mix until 2027 is examined by the WASP-IV. As a result of the program run, when considering the peak demand forecast without DSM reflection, since the base load plants including nuclear power take up adequate proportion, stable and economic supply of electricity can be achieved. On the contrary, in case of planning based on the peak demand forecast with DSM reflected and then

Novel effects of demand side management data on accuracy of electrical energy consumption modeling and long-term forecasting

International Nuclear Information System (INIS)

Ardakani, F.J.; Ardehali, M.M.

2014-01-01

Highlights: • Novel effects of DSM data on electricity consumption forecasting is examined. • Optimal ANN models based on IPSO and SFL algorithms are developed. • Addition of DSM data to socio-economic indicators data reduces MAPE by 36%. - Abstract: Worldwide implementation of demand side management (DSM) programs has had positive impacts on electrical energy consumption (EEC) and the examination of their effects on long-term forecasting is warranted. The objective of this study is to investigate the effects of historical DSM data on accuracy of EEC modeling and long-term forecasting. To achieve the objective, optimal artificial neural network (ANN) models based on improved particle swarm optimization (IPSO) and shuffled frog-leaping (SFL) algorithms are developed for EEC forecasting. For long-term EEC modeling and forecasting for the U.S. for 2010–2030, two historical data types used in conjunction with developed models include (i) EEC and (ii) socio-economic indicators, namely, gross domestic product, energy imports, energy exports, and population for 1967–2009 period. Simulation results from IPSO-ANN and SFL-ANN models show that using socio-economic indicators as input data achieves lower mean absolute percentage error (MAPE) for long-term EEC forecasting, as compared with EEC data. Based on IPSO-ANN, it is found that, for the U.S. EEC long-term forecasting, the addition of DSM data to socio-economic indicators data reduces MAPE by 36% and results in the estimated difference of 3592.8 MBOE (5849.9 TW h) in EEC for 2010–2030

A COMPARATIVE STUDY OF FORECASTING MODELS FOR TREND AND SEASONAL TIME SERIES DOES COMPLEX MODEL ALWAYS YIELD BETTER FORECAST THAN SIMPLE MODELS

Directory of Open Access Journals (Sweden)

Suhartono Suhartono

2005-01-01

Full Text Available Many business and economic time series are non-stationary time series that contain trend and seasonal variations. Seasonality is a periodic and recurrent pattern caused by factors such as weather, holidays, or repeating promotions. A stochastic trend is often accompanied with the seasonal variations and can have a significant impact on various forecasting methods. In this paper, we will investigate and compare some forecasting methods for modeling time series with both trend and seasonal patterns. These methods are Winter's, Decomposition, Time Series Regression, ARIMA and Neural Networks models. In this empirical research, we study on the effectiveness of the forecasting performance, particularly to answer whether a complex method always give a better forecast than a simpler method. We use a real data, that is airline passenger data. The result shows that the more complex model does not always yield a better result than a simpler one. Additionally, we also find the possibility to do further research especially the use of hybrid model by combining some forecasting method to get better forecast, for example combination between decomposition (as data preprocessing and neural network model.

Forecasting with quantitative methods the impact of special events in time series

OpenAIRE

Nikolopoulos, Konstantinos

2010-01-01

Abstract Quantitative methods are very successful for producing baseline forecasts of time series; however these models fail to forecast neither the timing nor the impact of special events such as promotions or strikes. In most of the cases the timing of such events is not known so they are usually referred as shocks (economics) or special events (forecasting). Sometimes the timing of such events is known a priori (i.e. a future promotion); but even then the impact of the forthcom...

Forecasting conditional climate-change using a hybrid approach

Science.gov (United States)

Esfahani, Akbar Akbari; Friedel, Michael J.

2014-01-01

A novel approach is proposed to forecast the likelihood of climate-change across spatial landscape gradients. This hybrid approach involves reconstructing past precipitation and temperature using the self-organizing map technique; determining quantile trends in the climate-change variables by quantile regression modeling; and computing conditional forecasts of climate-change variables based on self-similarity in quantile trends using the fractionally differenced auto-regressive integrated moving average technique. The proposed modeling approach is applied to states (Arizona, California, Colorado, Nevada, New Mexico, and Utah) in the southwestern U.S., where conditional forecasts of climate-change variables are evaluated against recent (2012) observations, evaluated at a future time period (2030), and evaluated as future trends (2009–2059). These results have broad economic, political, and social implications because they quantify uncertainty in climate-change forecasts affecting various sectors of society. Another benefit of the proposed hybrid approach is that it can be extended to any spatiotemporal scale providing self-similarity exists.

A Wind Forecasting System for Energy Application

Science.gov (United States)

Courtney, Jennifer; Lynch, Peter; Sweeney, Conor

2010-05-01

Accurate forecasting of available energy is crucial for the efficient management and use of wind power in the national power grid. With energy output critically dependent upon wind strength there is a need to reduce the errors associated wind forecasting. The objective of this research is to get the best possible wind forecasts for the wind energy industry. To achieve this goal, three methods are being applied. First, a mesoscale numerical weather prediction (NWP) model called WRF (Weather Research and Forecasting) is being used to predict wind values over Ireland. Currently, a gird resolution of 10km is used and higher model resolutions are being evaluated to establish whether they are economically viable given the forecast skill improvement they produce. Second, the WRF model is being used in conjunction with ECMWF (European Centre for Medium-Range Weather Forecasts) ensemble forecasts to produce a probabilistic weather forecasting product. Due to the chaotic nature of the atmosphere, a single, deterministic weather forecast can only have limited skill. The ECMWF ensemble methods produce an ensemble of 51 global forecasts, twice a day, by perturbing initial conditions of a 'control' forecast which is the best estimate of the initial state of the atmosphere. This method provides an indication of the reliability of the forecast and a quantitative basis for probabilistic forecasting. The limitation of ensemble forecasting lies in the fact that the perturbed model runs behave differently under different weather patterns and each model run is equally likely to be closest to the observed weather situation. Models have biases, and involve assumptions about physical processes and forcing factors such as underlying topography. Third, Bayesian Model Averaging (BMA) is being applied to the output from the ensemble forecasts in order to statistically post-process the results and achieve a better wind forecasting system. BMA is a promising technique that will offer calibrated

A comparison of the VAR model and the PC factor model in forecasting inflation in Montenegro

Directory of Open Access Journals (Sweden)

Lipovina-Božović Milena

2013-01-01

Full Text Available Montenegro started using the euro in 2002 and regained independence in 2006. Its main economic partners are European countries, yet inflation movements in Montenegro do not coincide with consumer price fluctuations in the eurozone. Trying to develop a useful forecasting model for Montenegrin inflation, we compare the results of a three-variable vector autoregression (VAR model, and a principle component (PC factor model starting with twelve variables. The estimation period is January 2001 to December 2012, and the control months are the first six months of 2013. The results show that in forecasting inflation, despite a high level of Montenegrin economic dependence on international developments, more reliable forecasts are achieved with the use of additional information on a larger number of factors, which includes domestic economic activity.

Oil price assumptions in macroeconomic forecasts: should we follow future market expectations?

International Nuclear Information System (INIS)

Coimbra, C.; Esteves, P.S.

2004-01-01

In macroeconomic forecasting, in spite of its important role in price and activity developments, oil prices are usually taken as an exogenous variable, for which assumptions have to be made. This paper evaluates the forecasting performance of futures market prices against the other popular technical procedure, the carry-over assumption. The results suggest that there is almost no difference between opting for futures market prices or using the carry-over assumption for short-term forecasting horizons (up to 12 months), while, for longer-term horizons, they favour the use of futures market prices. However, as futures market prices reflect market expectations for world economic activity, futures oil prices should be adjusted whenever market expectations for world economic growth are different to the values underlying the macroeconomic scenarios, in order to fully ensure the internal consistency of those scenarios. (Author)

Analysis and forecast of railway coal transportation volume based on BP neural network combined forecasting model

Science.gov (United States)

Xu, Yongbin; Xie, Haihong; Wu, Liuyi

2018-05-01

The share of coal transportation in the total railway freight volume is about 50%. As is widely acknowledged, coal industry is vulnerable to the economic situation and national policies. Coal transportation volume fluctuates significantly under the new economic normal. Grasp the overall development trend of railway coal transportation market, have important reference and guidance significance to the railway and coal industry decision-making. By analyzing the economic indicators and policy implications, this paper expounds the trend of the coal transportation volume, and further combines the economic indicators with the high correlation with the coal transportation volume with the traditional traffic prediction model to establish a combined forecasting model based on the back propagation neural network. The error of the prediction results is tested, which proves that the method has higher accuracy and has practical application.

Forecasting and Warning of Tropical Cyclones in China

Directory of Open Access Journals (Sweden)

Bangzhong Wang

2007-10-01

Full Text Available With the development of the global economy, the impact of tropical cyclones has become far-reaching. Thus they are a fundamental issue to be addressed both nationally and globally. The socio-economic impact is particularly noticeable in developing countries, especially China. This paper begins with the effects of cyclones on regional and global economies. Then a brief introduction to the past and current situations and progress in cyclones forecasting and warning in China are presented. Finally the paper gives recommendations about improving and perfecting the tropical cyclone forecasting and warning systems.

A hybrid approach for probabilistic forecasting of electricity price

DEFF Research Database (Denmark)

Wan, Can; Xu, Zhao; Wang, Yelei

2014-01-01

to the nonstationarities involved in market clearing prices (MCPs), it is rather difficult to accurately predict MCPs in advance. The challenge is getting intensified as more and more renewable energy and other new technologies emerged in smart grids. Therefore transformation from traditional point forecasts...... electricity price forecasting is proposed in this paper. The effectiveness of the proposed hybrid method has been validated through comprehensive tests using real price data from Australian electricity market.......The electricity market plays a key role in realizing the economic prophecy of smart grids. Accurate and reliable electricity market price forecasting is essential to facilitate various decision making activities of market participants in the future smart grid environment. However, due...

Quantification of Forecast Error Costs of Photovoltaic Prosumers in Italy

Directory of Open Access Journals (Sweden)

Giovanni Brusco

2017-11-01

Full Text Available In recent years, the diffusion of electric plants based on renewable non-dispatchable sources has caused large imbalances between the power generation schedule and the actual generation in real time operations, resulting in increased costs for dispatching electric power systems. Although this type of source cannot be programmed, their production can be predicted using soft computing techniques that consider weather forecasts, reducing the imbalance costs paid to the transmission system operator (TSO. The problem is mainly that the forecasting procedures used by the TSO, distribution system operator (DSO or large producers and they are too expensive, as they use complex algorithms and detailed meteorological data that have to be bought, this can represent an excessive charge for small-scale producers, such as prosumers. In this paper, a cheap photovoltaic (PV production forecasting method, in terms of reduced computational effort, free-available meteorological data and implementation is discussed, and the economic results regarding the imbalance costs due to the utilization of this method are analyzed. The economic analysis is carried out considering several factors, such as the month, the day type, and the accuracy of the forecasting method. The user can utilize the implemented method to know and reduce the imbalance costs, by adopting particular load management strategies.

House Price Forecasts, Forecaster Herding, and the Recent Crisis

DEFF Research Database (Denmark)

Stadtmann, Georg; Pierdzioch; Ruelke

2013-01-01

We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from) t......) the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time....

Operational hydrological forecasting in Bavaria. Part II: Ensemble forecasting

Science.gov (United States)

Ehret, U.; Vogelbacher, A.; Moritz, K.; Laurent, S.; Meyer, I.; Haag, I.

2009-04-01

In part I of this study, the operational flood forecasting system in Bavaria and an approach to identify and quantify forecast uncertainty was introduced. The approach is split into the calculation of an empirical 'overall error' from archived forecasts and the calculation of an empirical 'model error' based on hydrometeorological forecast tests, where rainfall observations were used instead of forecasts. The 'model error' can especially in upstream catchments where forecast uncertainty is strongly dependent on the current predictability of the atrmosphere be superimposed on the spread of a hydrometeorological ensemble forecast. In Bavaria, two meteorological ensemble prediction systems are currently tested for operational use: the 16-member COSMO-LEPS forecast and a poor man's ensemble composed of DWD GME, DWD Cosmo-EU, NCEP GFS, Aladin-Austria, MeteoSwiss Cosmo-7. The determination of the overall forecast uncertainty is dependent on the catchment characteristics: 1. Upstream catchment with high influence of weather forecast a) A hydrological ensemble forecast is calculated using each of the meteorological forecast members as forcing. b) Corresponding to the characteristics of the meteorological ensemble forecast, each resulting forecast hydrograph can be regarded as equally likely. c) The 'model error' distribution, with parameters dependent on hydrological case and lead time, is added to each forecast timestep of each ensemble member d) For each forecast timestep, the overall (i.e. over all 'model error' distribution of each ensemble member) error distribution is calculated e) From this distribution, the uncertainty range on a desired level (here: the 10% and 90% percentile) is extracted and drawn as forecast envelope. f) As the mean or median of an ensemble forecast does not necessarily exhibit meteorologically sound temporal evolution, a single hydrological forecast termed 'lead forecast' is chosen and shown in addition to the uncertainty bounds. This can be

A fuzzy inference model for short-term load forecasting

International Nuclear Information System (INIS)

Mamlook, Rustum; Badran, Omar; Abdulhadi, Emad

2009-01-01

This paper is concerned with the short-term load forecasting (STLF) in power system operations. It provides load prediction for generation scheduling and unit commitment decisions, and therefore precise load forecasting plays an important role in reducing the generation cost and the spinning reserve capacity. Short-term electricity demand forecasting (i.e., the prediction of hourly loads (demand)) is one of the most important tools by which an electric utility/company plans, dispatches the loading of generating units in order to meet system demand. The accuracy of the dispatching system, which is derived from the accuracy of the forecasting algorithm used, will determine the economics of the operation of the power system. The inaccuracy or large error in the forecast simply means that load matching is not optimized and consequently the generation and transmission systems are not being operated in an efficient manner. In the present study, a proposed methodology has been introduced to decrease the forecasted error and the processing time by using fuzzy logic controller on an hourly base. Therefore, it predicts the effect of different conditional parameters (i.e., weather, time, historical data, and random disturbances) on load forecasting in terms of fuzzy sets during the generation process. These parameters are chosen with respect to their priority and importance. The forecasted values obtained by fuzzy method were compared with the conventionally forecasted ones. The results showed that the STLF of the fuzzy implementation have more accuracy and better outcomes

Analyses and Forecasting of Smart Grid Technological Dynamics

Directory of Open Access Journals (Sweden)

I. V. Danilin

2017-01-01

Full Text Available Purpose: this paper analyzes and forecasts medium- to long-term dynamics of Smart Grid technology developments considering both patent activity and socio-economic (demand-side issues and requirements of economy and power system factors. Methods: for the analysis of Smart Grid patent data (IIP, USPTO, and WIPO patent databases used we apply syntactic semantic analysis of texts in natural languages and logistic curve-based method. We propose Exactus Patent system for intelligent full-text search and analysis of patents (results verified with Thomson Innovation and TotalPatent patent search systems. For interpretation of revealed dynamics and forecasting of future conditions we identify key long-term socio-economic factors drivers for Smart Grid development. Elements of C. Christensen (disruptive innovations and G. Dosi (technological trajectories theories were applied. Results: the study reveals a fast technological transformation within the Smart Grid domain due to the long-term socio-economic factors such as rise of renewables; energy efficiency and energy security issues; environmental constraints and shift of values; requirements for accelerated grid construction (in developing economies and grid modernization (in developed ones; ongoing economy-wide digitalization. Due to the limited economic effects of Smart Grid roll-outs (considering major requirements of economic agents and society and considering progressions of patent dynamics, authors forecasts technology stagnation (in terms of number of patents growth by the end of 2010-s as end of Gartner`s hype development stage. Conclusions and Relevance: a foreseen change in dynamics of Smart Grid technology development is interpreted as a manifestation of sinusoidal fluctuations in technology development for disruptive technologies (supported with OECD data. A longer cycle (in comparison with other disruptive technologies is interpreted as consequence of technology and industry specifics

Short-term spatio-temporal wind power forecast in robust look-ahead power system dispatch

KAUST Repository

Xie, Le

2014-01-01

We propose a novel statistical wind power forecast framework, which leverages the spatio-temporal correlation in wind speed and direction data among geographically dispersed wind farms. Critical assessment of the performance of spatio-temporal wind power forecast is performed using realistic wind farm data from West Texas. It is shown that spatio-temporal wind forecast models are numerically efficient approaches to improving forecast quality. By reducing uncertainties in near-term wind power forecasts, the overall cost benefits on system dispatch can be quantified. We integrate the improved forecast with an advanced robust look-ahead dispatch framework. This integrated forecast and economic dispatch framework is tested in a modified IEEE RTS 24-bus system. Numerical simulation suggests that the overall generation cost can be reduced by up to 6% using a robust look-ahead dispatch coupled with spatio-temporal wind forecast as compared with persistent wind forecast models. © 2013 IEEE.

House Price Forecasts, Forecaster Herding, and the Recent Crisis

Directory of Open Access Journals (Sweden)

Christian Pierdzioch

2012-11-01

Full Text Available We used the Wall Street Journal survey data for the period 2006–2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-herding of forecasters. Forecasts are consistent with herding (anti-herding of forecasters if forecasts are biased towards (away from the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time.

Price Forecasting of Electricity Markets in the Presence of a High Penetration of Wind Power Generators

OpenAIRE

Saber Talari; Miadreza Shafie-khah; Gerardo J. Osório; Fei Wang; Alireza Heidari; João P. S. Catalão

2017-01-01

Price forecasting plays a vital role in the day-ahead markets. Once sellers and buyers access an accurate price forecasting, managing the economic risk can be conducted appropriately through offering or bidding suitable prices. In networks with high wind power penetration, the electricity price is influenced by wind energy; therefore, price forecasting can be more complicated. This paper proposes a novel hybrid approach for price forecasting of day-ahead markets, with high penetration of wind...

Using Agent-Based Models in the Analysis and Forecast of Socio-Economic Development of Territories

Directory of Open Access Journals (Sweden)

Vitalii Nikolaevich Makoveev

2016-11-01

by developers of agent-based models of socio-economic development and prospects for further research in this field. It has been established that the agent-based approach to the modeling of socio-economic development of territories is very promising, it helps improve the efficiency of forecasting regional development and management decisions due to a very detailed and realistic reconstruction of the internal structure of a region in the form of separate independent economic entities that interact with each other and with external environment, and also due to the possibility of fast processing and analysis of large amounts of data

Integrating predictive information into an agro-economic model to guide agricultural management

Science.gov (United States)

Zhang, Y.; Block, P.

2016-12-01

Skillful season-ahead climate predictions linked with responsive agricultural planning and management have the potential to reduce losses, if adopted by farmers, particularly for rainfed-dominated agriculture such as in Ethiopia. Precipitation predictions during the growing season in major agricultural regions of Ethiopia are used to generate predicted climate yield factors, which reflect the influence of precipitation amounts on crop yields and serve as inputs into an agro-economic model. The adapted model, originally developed by the International Food Policy Research Institute, produces outputs of economic indices (GDP, poverty rates, etc.) at zonal and national levels. Forecast-based approaches, in which farmers' actions are in response to forecasted conditions, are compared with no-forecast approaches in which farmers follow business as usual practices, expecting "average" climate conditions. The effects of farmer adoption rates, including the potential for reduced uptake due to poor predictions, and increasing forecast lead-time on economic outputs are also explored. Preliminary results indicate superior gains under forecast-based approaches.

Coping with Changes in International Classifications of Sectors and Occupations: Application in Skills Forecasting. Research Paper No 43

Science.gov (United States)

Kvetan, Vladimir, Ed.

2014-01-01

Reliable and consistent time series are essential to any kind of economic forecasting. Skills forecasting needs to combine data from national accounts and labour force surveys, with the pan-European dimension of Cedefop's skills supply and demand forecasts, relying on different international classification standards. Sectoral classification (NACE)…

Building economics

DEFF Research Database (Denmark)

Pedersen, D.O.(red.)

Publikationen er på engelsk. Den omfatter alle indlæg på det fjerde internationale symposium om byggeøkonomi, der blev arrangeret af SBI for det internationale byggeforskningsråd CIB. De fem bind omhandler: Methods of Economic Evaluation, Design Optimization, Ressource Utilization, The Building...... Market og Economics and Technological Forecasting in Construction. Et indledende bind bringer statusrapporter for de fem forskningsområder, og det sidste bind sammenfatter debatten på symposiet....

Elements of a coastal ocean forecasting system for India

Digital Repository Service at National Institute of Oceanography (India)

Shetye, S.R.; Radhakrishnan, K.

After about four decades of investment in infrastructure for ocean research, an appropriate initiative for India now would be to build a coastal ocean forecasting system to support the country's myriad activities in its Exclusive Economic Zone...

Evaluating Forecasting Models for Unemployment Rates by Gender in Selected European Countries

Directory of Open Access Journals (Sweden)

Ksenija Dumičić

2017-03-01

Full Text Available The unemployment can be considered as one of the main economic problems. The aim of this article is to examine the differences in male and female unemployment rates in selected European countries and to predict their future trends by using different statistical forecasting models. Furthermore, the impact of adding a new data point on the selection of the most appropriate statistical forecasting model and on the overall forecasting errors values is also evaluated. Male and female unemployment rates are observed for twelve European countries in the period from 1991 to 2014. Four statistical forecasting models have been selected and applied and the most appropriate model is considered to be the one with the lowest overall forecasting errors values. The analysis has shown that in the period from 1991 to 2014 the decreasing trend of unemployment rates in the short-run is forecasted for more Eastern Balkan than the EU-28 countries. An additional data point for male and female unemployment rates in 2014 led to somewhat smaller forecasting errors in more than half of the observed countries. However, the additional data point does not necessarily improve forecasting performances of the used statistical forecasting models.

Daily Peak Load Forecasting of Next Day using Weather Distribution and Comparison Value of Each Nearby Date Data

Science.gov (United States)

Ito, Shigenobu; Yukita, Kazuto; Goto, Yasuyuki; Ichiyanagi, Katsuhiro; Nakano, Hiroyuki

By the development of industry, in recent years; dependence to electric energy is growing year by year. Therefore, reliable electric power supply is in need. However, to stock a huge amount of electric energy is very difficult. Also, there is a necessity to keep balance between the demand and supply, which changes hour after hour. Consequently, to supply the high quality and highly dependable electric power supply, economically, and with high efficiency, there is a need to forecast the movement of the electric power demand carefully in advance. And using that forecast as the source, supply and demand management plan should be made. Thus load forecasting is said to be an important job among demand investment of electric power companies. So far, forecasting method using Fuzzy logic, Neural Net Work, Regression model has been suggested for the development of forecasting accuracy. Those forecasting accuracy is in a high level. But to invest electric power in higher accuracy more economically, a new forecasting method with higher accuracy is needed. In this paper, to develop the forecasting accuracy of the former methods, the daily peak load forecasting method using the weather distribution of highest and lowest temperatures, and comparison value of each nearby date data is suggested.

Flood forecasting and uncertainty of precipitation forecasts

International Nuclear Information System (INIS)

Kobold, Mira; Suselj, Kay

2004-01-01

The timely and accurate flood forecasting is essential for the reliable flood warning. The effectiveness of flood warning is dependent on the forecast accuracy of certain physical parameters, such as the peak magnitude of the flood, its timing, location and duration. The conceptual rainfall - runoff models enable the estimation of these parameters and lead to useful operational forecasts. The accurate rainfall is the most important input into hydrological models. The input for the rainfall can be real time rain-gauges data, or weather radar data, or meteorological forecasted precipitation. The torrential nature of streams and fast runoff are characteristic for the most of the Slovenian rivers. Extensive damage is caused almost every year- by rainstorms affecting different regions of Slovenia' The lag time between rainfall and runoff is very short for Slovenian territory and on-line data are used only for now casting. Forecasted precipitations are necessary for hydrological forecast for some days ahead. ECMWF (European Centre for Medium-Range Weather Forecasts) gives general forecast for several days ahead while more detailed precipitation data with limited area ALADIN/Sl model are available for two days ahead. There is a certain degree of uncertainty using such precipitation forecasts based on meteorological models. The variability of precipitation is very high in Slovenia and the uncertainty of ECMWF predicted precipitation is very large for Slovenian territory. ECMWF model can predict precipitation events correctly, but underestimates amount of precipitation in general The average underestimation is about 60% for Slovenian region. The predictions of limited area ALADIN/Si model up to; 48 hours ahead show greater applicability in hydrological forecasting. The hydrological models are sensitive to precipitation input. The deviation of runoff is much bigger than the rainfall deviation. Runoff to rainfall error fraction is about 1.6. If spatial and time distribution

Short-term load forecasting of power system

Science.gov (United States)

Xu, Xiaobin

2017-05-01

In order to ensure the scientific nature of optimization about power system, it is necessary to improve the load forecasting accuracy. Power system load forecasting is based on accurate statistical data and survey data, starting from the history and current situation of electricity consumption, with a scientific method to predict the future development trend of power load and change the law of science. Short-term load forecasting is the basis of power system operation and analysis, which is of great significance to unit combination, economic dispatch and safety check. Therefore, the load forecasting of the power system is explained in detail in this paper. First, we use the data from 2012 to 2014 to establish the partial least squares model to regression analysis the relationship between daily maximum load, daily minimum load, daily average load and each meteorological factor, and select the highest peak by observing the regression coefficient histogram Day maximum temperature, daily minimum temperature and daily average temperature as the meteorological factors to improve the accuracy of load forecasting indicators. Secondly, in the case of uncertain climate impact, we use the time series model to predict the load data for 2015, respectively, the 2009-2014 load data were sorted out, through the previous six years of the data to forecast the data for this time in 2015. The criterion for the accuracy of the prediction is the average of the standard deviations for the prediction results and average load for the previous six years. Finally, considering the climate effect, we use the BP neural network model to predict the data in 2015, and optimize the forecast results on the basis of the time series model.

Forecasting daily patient volumes in the emergency department.

Science.gov (United States)

Jones, Spencer S; Thomas, Alun; Evans, R Scott; Welch, Shari J; Haug, Peter J; Snow, Gregory L

2008-02-01

Shifts in the supply of and demand for emergency department (ED) resources make the efficient allocation of ED resources increasingly important. Forecasting is a vital activity that guides decision-making in many areas of economic, industrial, and scientific planning, but has gained little traction in the health care industry. There are few studies that explore the use of forecasting methods to predict patient volumes in the ED. The goals of this study are to explore and evaluate the use of several statistical forecasting methods to predict daily ED patient volumes at three diverse hospital EDs and to compare the accuracy of these methods to the accuracy of a previously proposed forecasting method. Daily patient arrivals at three hospital EDs were collected for the period January 1, 2005, through March 31, 2007. The authors evaluated the use of seasonal autoregressive integrated moving average, time series regression, exponential smoothing, and artificial neural network models to forecast daily patient volumes at each facility. Forecasts were made for horizons ranging from 1 to 30 days in advance. The forecast accuracy achieved by the various forecasting methods was compared to the forecast accuracy achieved when using a benchmark forecasting method already available in the emergency medicine literature. All time series methods considered in this analysis provided improved in-sample model goodness of fit. However, post-sample analysis revealed that time series regression models that augment linear regression models by accounting for serial autocorrelation offered only small improvements in terms of post-sample forecast accuracy, relative to multiple linear regression models, while seasonal autoregressive integrated moving average, exponential smoothing, and artificial neural network forecasting models did not provide consistently accurate forecasts of daily ED volumes. This study confirms the widely held belief that daily demand for ED services is characterized by

Turkey's short-term gross annual electricity demand forecast by fuzzy logic approach

International Nuclear Information System (INIS)

Kucukali, Serhat; Baris, Kemal

2010-01-01

This paper aims to forecast Turkey's short-term gross annual electricity demand by applying fuzzy logic methodology while general information on economical, political and electricity market conditions of the country is also given. Unlike most of the other forecast models about Turkey's electricity demand, which usually uses more than one parameter, gross domestic product (GDP) based on purchasing power parity was the only parameter used in the model. Proposed model made good predictions and captured the system dynamic behavior covering the years of 1970-2014. The model yielded average absolute relative errors of 3.9%. Furthermore, the model estimates a 4.5% decrease in electricity demand of Turkey in 2009 and the electricity demand growth rates are projected to be about 4% between 2010 and 2014. It is concluded that forecasting the Turkey's short-term gross electricity demand with the country's economic performance will provide more reliable projections. Forecasting the annual electricity consumption of a country could be made by any designer with the help of the fuzzy logic procedure described in this paper. The advantage of this model lies on the ability to mimic the human thinking and reasoning.

Issues in midterm analysis and forecasting 1998

Energy Technology Data Exchange (ETDEWEB)

NONE

1998-07-01

Issues in Midterm Analysis and Forecasting 1998 (Issues) presents a series of nine papers covering topics in analysis and modeling that underlie the Annual Energy Outlook 1998 (AEO98), as well as other significant issues in midterm energy markets. AEO98, DOE/EIA-0383(98), published in December 1997, presents national forecasts of energy production, demand, imports, and prices through the year 2020 for five cases -- a reference case and four additional cases that assume higher and lower economic growth and higher and lower world oil prices than in the reference case. The forecasts were prepared by the Energy Information Administration (EIA), using EIA`s National Energy Modeling System (NEMS). The papers included in Issues describe underlying analyses for the projections in AEO98 and the forthcoming Annual Energy Outlook 1999 and for other products of EIA`s Office of Integrated Analysis and Forecasting. Their purpose is to provide public access to analytical work done in preparation for the midterm projections and other unpublished analyses. Specific topics were chosen for their relevance to current energy issues or to highlight modeling activities in NEMS. 59 figs., 44 tabs.

Short-Term Wind Power Interval Forecasting Based on an EEMD-RT-RVM Model

Directory of Open Access Journals (Sweden)

Haixiang Zang

2016-01-01

Full Text Available Accurate short-term wind power forecasting is important for improving the security and economic success of power grids. Existing wind power forecasting methods are mostly types of deterministic point forecasting. Deterministic point forecasting is vulnerable to forecasting errors and cannot effectively deal with the random nature of wind power. In order to solve the above problems, we propose a short-term wind power interval forecasting model based on ensemble empirical mode decomposition (EEMD, runs test (RT, and relevance vector machine (RVM. First, in order to reduce the complexity of data, the original wind power sequence is decomposed into a plurality of intrinsic mode function (IMF components and residual (RES component by using EEMD. Next, we use the RT method to reconstruct the components and obtain three new components characterized by the fine-to-coarse order. Finally, we obtain the overall forecasting results (with preestablished confidence levels by superimposing the forecasting results of each new component. Our results show that, compared with existing methods, our proposed short-term interval forecasting method has less forecasting errors, narrower interval widths, and larger interval coverage percentages. Ultimately, our forecasting model is more suitable for engineering applications and other forecasting methods for new energy.

NBIC-TECHNOLOGIES GET OVER ECONOMIC DEPRESSION

Directory of Open Access Journals (Sweden)

A. A. Akaev

2014-01-01

Full Text Available This paper is reflecting results of forecasting scenario of economic growth and shown that NBIC-technologies, due to the powerful synergetic effect generating by a mutual convergence of nano-, bio-, info- and cognitive technologies, will give strong acceleration pace of technological progress, which exceeded the rate achieved in the previous upward wave of 5th great Kondratieff ’s economic cycle (1982–2006. On the base of theUSAeconomy data, the results of forecasting shows that the rate of technological progress will increase from 2,2% in 1980 to 3,5% in the 2030 s. 

Urban Saturated Power Load Analysis Based on a Novel Combined Forecasting Model

Directory of Open Access Journals (Sweden)

Huiru Zhao

2015-03-01

Full Text Available Analysis of urban saturated power loads is helpful to coordinate urban power grid construction and economic social development. There are two different kinds of forecasting models: the logistic curve model focuses on the growth law of the data itself, while the multi-dimensional forecasting model considers several influencing factors as the input variables. To improve forecasting performance, a novel combined forecasting model for saturated power load analysis was proposed in this paper, which combined the above two models. Meanwhile, the weights of these two models in the combined forecasting model were optimized by employing a fruit fly optimization algorithm. Using Hubei Province as the example, the effectiveness of the proposed combined forecasting model was verified, demonstrating a higher forecasting accuracy. The analysis result shows that the power load of Hubei Province will reach saturation in 2039, and the annual maximum power load will reach about 78,630 MW. The results obtained from this proposed hybrid urban saturated power load analysis model can serve as a reference for sustainable development for urban power grids, regional economies, and society at large.

Can energy forecasts be improved?

International Nuclear Information System (INIS)

Rech, O.; Alban, P.

2000-01-01

Within the present day context of energy, characterized by the gap between short term trends and long term risks, forecasting takes on particular interest. We based our study on the evaluation of the results of some of these long term (2020) and very long term (2050) forecasts. This article looks at the overall demand for energy, whereas the evolution of each primary energy will be handled in a future article. We are restricting our analysis to a global level despite the inherent limitations of such a choice. Our approach mainly concentrates on the dynamics of the phenomena. Thus, we have noticed a simultaneous slowing down since the 1960's of the demography, economy and energy. The revenue and energy consumption per capita do not elude this tendency. At the same time, energy production leads a steep downward tendency. All in all, the forecasts have a tendency to conflict more or less with these changes. In the majority of the scenarios the anticipated rhythms of economic change and energy consumption would indicate a sudden and abrupt inverse of current dynamics. We have noticed that the single use of the average annual rate of change is insufficient to clearly present the long term tendencies that follow curved and not linear paths. Diagnostic errors made in past analyses are likely to affect the models for forecasting, for which the inferred dynamics have not been fully apprehended

African Review of Economics and Finance: Submissions

African Journals Online (AJOL)

The African Review of Economics and Finance is a peer-reviewed, scholarly ... financial markets and institutions, asset pricing, forecasting, impact of culture and ... In: Friedman BM, Hahn FH (Eds), Handbook of monetary economics, vol.1.

Short-term forecasts of energy use and energy supply 2012-2014. Spring 2013; Kortsiktsprognos - Oever energianvaendning och energitillfoersel 2012-2014, Vaaren 2013

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-03-15

This report provides a description of the Swedish energy system in 2011 and an assessment of its development between 2012 - 2014. The forecast shall be interpreted as a consequence of the limitations and assumptions underlying it. Thus, it is important to remember that if any of the conditions or assumptions change, the forecast's results will also change. The forecast is based on economic conditions that have been developed from the National Institute of Economic Trend. Other conditions such as electricity prices, fuel prices, outdoor temperature and inflow into reservoirs are based on information available up to January 2013, when forecasting began.

Forecasting Macedonian Business Cycle Turning Points Using Qual Var Model

Directory of Open Access Journals (Sweden)

Petrovska Magdalena

2016-09-01

Full Text Available This paper aims at assessing the usefulness of leading indicators in business cycle research and forecast. Initially we test the predictive power of the economic sentiment indicator (ESI within a static probit model as a leading indicator, commonly perceived to be able to provide a reliable summary of the current economic conditions. We further proceed analyzing how well an extended set of indicators performs in forecasting turning points of the Macedonian business cycle by employing the Qual VAR approach of Dueker (2005. In continuation, we evaluate the quality of the selected indicators in pseudo-out-of-sample context. The results show that the use of survey-based indicators as a complement to macroeconomic data work satisfactory well in capturing the business cycle developments in Macedonia.

The effects of forecast errors on the merchandising of wind power

International Nuclear Information System (INIS)

Roon, Serafin von

2012-01-01

A permanent balance between consumption and generation is essential for a stable supply of electricity. In order to ensure this balance, all relevant load data have to be announced for the following day. Consequently, a day-ahead forecast of the wind power generation is required, which also forms the basis for the sale of the wind power at the wholesale market. The main subject of the study is the short-term power supply, which compensates errors in wind power forecasting for balancing the wind power forecast errors at short notice. These forecast errors effects the revenues and the expenses by selling and buying power in the day-ahead, intraday and balance energy market. These price effects resulting from the forecast errors are derived from an empirical analysis. In a scenario for the year 2020 the potential of conventional power plants to supply power at short notice is evaluated from a technical and economic point of view by a time series analysis and a unit commitment simulation.

Engaging farmers on climate risk through targeted integration of bio-economic modelling and seasonal climate forecasts

NARCIS (Netherlands)

Nidumolu, U.B.; Lubbers, M.; Kanellopoulos, A.; Ittersum, van M.K.; Kadiyala, D.M.; Sreenivas, G.

2016-01-01

Seasonal climate forecasts (SCFs) can be used to identify appropriate risk management strategies and to reduce the sensitivity of rural industries and communities to climate risk. However, these forecasts have low utility among farmers in agricultural decision making, unless translated into a

Forecast Combinations

OpenAIRE

Timmermann, Allan G

2005-01-01

Forecast combinations have frequently been found in empirical studies to produce better forecasts on average than methods based on the ex-ante best individual forecasting model. Moreover, simple combinations that ignore correlations between forecast errors often dominate more refined combination schemes aimed at estimating the theoretically optimal combination weights. In this paper we analyse theoretically the factors that determine the advantages from combining forecasts (for example, the d...

The Economic Value of Predicting Bond Risk Premia

DEFF Research Database (Denmark)

Sarno, Lucio; Schneider, Paul; Wagner, Christian

2016-01-01

evaluation. More specifically, the model mostly generates positive (negative) economic value during times of high (low) macroeconomic uncertainty. Overall, the expectations hypothesis remains a useful benchmark for investment decisions in bond markets, especially in low uncertainty states.......This paper studies whether the evident statistical predictability of bond risk premia translates into economic gains for investors. We propose a novel estimation strategy for affine term structure models that jointly fits yields and bond excess returns, thereby capturing predictive information...... otherwise hidden to standard estimations. The model predicts excess returns with high regression R2s and high forecast accuracy but cannot outperform the expectations hypothesis out-of-sample in terms of economic value, showing a general contrast between statistical and economic metrics of forecast...

Density Forecasts of Crude-Oil Prices Using Option-Implied and ARCH-Type Models

DEFF Research Database (Denmark)

Tsiaras, Leonidas; Høg, Esben

  The predictive accuracy of competing crude-oil price forecast densities is investigated for the 1994-2006 period. Moving beyond standard ARCH models that rely exclusively on past returns, we examine the benefits of utilizing the forward-looking information that is embedded in the prices...... as for regions and intervals that are of special interest for the economic agent. We find that non-parametric adjustments of risk-neutral density forecasts perform significantly better than their parametric counterparts. Goodness-of-fit tests and out-of-sample likelihood comparisons favor forecast densities...

Forecast combinations

OpenAIRE

Aiolfi, Marco; Capistrán, Carlos; Timmermann, Allan

2010-01-01

We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best model-based forecasts for a majority of macroeconomic variables and forecast horizons. Additional improvements can in some cases be gained by using a simple equal-weighted average of survey and model-based fore...

Multicomponent ensemble models to forecast induced seismicity

Science.gov (United States)

Király-Proag, E.; Gischig, V.; Zechar, J. D.; Wiemer, S.

2018-01-01

In recent years, human-induced seismicity has become a more and more relevant topic due to its economic and social implications. Several models and approaches have been developed to explain underlying physical processes or forecast induced seismicity. They range from simple statistical models to coupled numerical models incorporating complex physics. We advocate the need for forecast testing as currently the best method for ascertaining if models are capable to reasonably accounting for key physical governing processes—or not. Moreover, operational forecast models are of great interest to help on-site decision-making in projects entailing induced earthquakes. We previously introduced a standardized framework following the guidelines of the Collaboratory for the Study of Earthquake Predictability, the Induced Seismicity Test Bench, to test, validate, and rank induced seismicity models. In this study, we describe how to construct multicomponent ensemble models based on Bayesian weightings that deliver more accurate forecasts than individual models in the case of Basel 2006 and Soultz-sous-Forêts 2004 enhanced geothermal stimulation projects. For this, we examine five calibrated variants of two significantly different model groups: (1) Shapiro and Smoothed Seismicity based on the seismogenic index, simple modified Omori-law-type seismicity decay, and temporally weighted smoothed seismicity; (2) Hydraulics and Seismicity based on numerically modelled pore pressure evolution that triggers seismicity using the Mohr-Coulomb failure criterion. We also demonstrate how the individual and ensemble models would perform as part of an operational Adaptive Traffic Light System. Investigating seismicity forecasts based on a range of potential injection scenarios, we use forecast periods of different durations to compute the occurrence probabilities of seismic events M ≥ 3. We show that in the case of the Basel 2006 geothermal stimulation the models forecast hazardous levels

A framework for improving a seasonal hydrological forecasting system using sensitivity analysis

Science.gov (United States)

Arnal, Louise; Pappenberger, Florian; Smith, Paul; Cloke, Hannah

2017-04-01

Seasonal streamflow forecasts are of great value for the socio-economic sector, for applications such as navigation, flood and drought mitigation and reservoir management for hydropower generation and water allocation to agriculture and drinking water. However, as we speak, the performance of dynamical seasonal hydrological forecasting systems (systems based on running seasonal meteorological forecasts through a hydrological model to produce seasonal hydrological forecasts) is still limited in space and time. In this context, the ESP (Ensemble Streamflow Prediction) remains an attractive forecasting method for seasonal streamflow forecasting as it relies on forcing a hydrological model (starting from the latest observed or simulated initial hydrological conditions) with historical meteorological observations. This makes it cheaper to run than a standard dynamical seasonal hydrological forecasting system, for which the seasonal meteorological forecasts will first have to be produced, while still producing skilful forecasts. There is thus the need to focus resources and time towards improvements in dynamical seasonal hydrological forecasting systems which will eventually lead to significant improvements in the skill of the streamflow forecasts generated. Sensitivity analyses are a powerful tool that can be used to disentangle the relative contributions of the two main sources of errors in seasonal streamflow forecasts, namely the initial hydrological conditions (IHC; e.g., soil moisture, snow cover, initial streamflow, among others) and the meteorological forcing (MF; i.e., seasonal meteorological forecasts of precipitation and temperature, input to the hydrological model). Sensitivity analyses are however most useful if they inform and change current operational practices. To this end, we propose a method to improve the design of a seasonal hydrological forecasting system. This method is based on sensitivity analyses, informing the forecasters as to which element of

Developing a Local Neurofuzzy Model for Short-Term Wind Power Forecasting

Directory of Open Access Journals (Sweden)

E. Faghihnia

2014-01-01

Full Text Available Large scale integration of wind generation capacity into power systems introduces operational challenges due to wind power uncertainty and variability. Therefore, accurate wind power forecast is important for reliable and economic operation of the power systems. Complexities and nonlinearities exhibited by wind power time series necessitate use of elaborative and sophisticated approaches for wind power forecasting. In this paper, a local neurofuzzy (LNF approach, trained by the polynomial model tree (POLYMOT learning algorithm, is proposed for short-term wind power forecasting. The LNF approach is constructed based on the contribution of local polynomial models which can efficiently model wind power generation. Data from Sotavento wind farm in Spain was used to validate the proposed LNF approach. Comparison between performance of the proposed approach and several recently published approaches illustrates capability of the LNF model for accurate wind power forecasting.

Forecast Inaccuracies in Power Plant Projects From Project Managers' Perspectives

Science.gov (United States)

Sanabria, Orlando

Guided by organizational theory, this phenomenological study explored the factors affecting forecast preparation and inaccuracies during the construction of fossil fuel-fired power plants in the United States. Forecast inaccuracies can create financial stress and uncertain profits during the project construction phase. A combination of purposeful and snowball sampling supported the selection of participants. Twenty project managers with over 15 years of experience in power generation and project experience across the United States were interviewed within a 2-month period. From the inductive codification and descriptive analysis, 5 themes emerged: (a) project monitoring, (b) cost control, (c) management review frequency, (d) factors to achieve a precise forecast, and (e) factors causing forecast inaccuracies. The findings of the study showed the factors necessary to achieve a precise forecast includes a detailed project schedule, accurate labor cost estimates, monthly project reviews and risk assessment, and proper utilization of accounting systems to monitor costs. The primary factors reported as causing forecast inaccuracies were cost overruns by subcontractors, scope gaps, labor cost and availability of labor, and equipment and material cost. Results of this study could improve planning accuracy and the effective use of resources during construction of power plants. The study results could contribute to social change by providing a framework to project managers to lessen forecast inaccuracies, and promote construction of power plants that will generate employment opportunities and economic development.

An experimental system for flood risk forecasting at global scale

Science.gov (United States)

Alfieri, L.; Dottori, F.; Kalas, M.; Lorini, V.; Bianchi, A.; Hirpa, F. A.; Feyen, L.; Salamon, P.

2016-12-01

Global flood forecasting and monitoring systems are nowadays a reality and are being applied by an increasing range of users and practitioners in disaster risk management. Furthermore, there is an increasing demand from users to integrate flood early warning systems with risk based forecasts, combining streamflow estimations with expected inundated areas and flood impacts. To this end, we have developed an experimental procedure for near-real time flood mapping and impact assessment based on the daily forecasts issued by the Global Flood Awareness System (GloFAS). The methodology translates GloFAS streamflow forecasts into event-based flood hazard maps based on the predicted flow magnitude and the forecast lead time and a database of flood hazard maps with global coverage. Flood hazard maps are then combined with exposure and vulnerability information to derive flood risk. Impacts of the forecasted flood events are evaluated in terms of flood prone areas, potential economic damage, and affected population, infrastructures and cities. To further increase the reliability of the proposed methodology we integrated model-based estimations with an innovative methodology for social media monitoring, which allows for real-time verification of impact forecasts. The preliminary tests provided good results and showed the potential of the developed real-time operational procedure in helping emergency response and management. In particular, the link with social media is crucial for improving the accuracy of impact predictions.

Improving Global Flood Forecasting using Satellite Detected Flood Extent

NARCIS (Netherlands)

Revilla Romero, B.

2016-01-01

Flooding is a natural global phenomenon but in many cases is exacerbated by human activity. Although flooding generally affects humans in a negative way, bringing death, suffering, and economic impacts, it also has potentially beneficial effects. Early flood warning and forecasting systems, as well

Operational hydrological forecasting in Bavaria. Part I: Forecast uncertainty

Science.gov (United States)

Ehret, U.; Vogelbacher, A.; Moritz, K.; Laurent, S.; Meyer, I.; Haag, I.

2009-04-01

In Bavaria, operational flood forecasting has been established since the disastrous flood of 1999. Nowadays, forecasts based on rainfall information from about 700 raingauges and 600 rivergauges are calculated and issued for nearly 100 rivergauges. With the added experience of the 2002 and 2005 floods, awareness grew that the standard deterministic forecast, neglecting the uncertainty associated with each forecast is misleading, creating a false feeling of unambiguousness. As a consequence, a system to identify, quantify and communicate the sources and magnitude of forecast uncertainty has been developed, which will be presented in part I of this study. In this system, the use of ensemble meteorological forecasts plays a key role which will be presented in part II. Developing the system, several constraints stemming from the range of hydrological regimes and operational requirements had to be met: Firstly, operational time constraints obviate the variation of all components of the modeling chain as would be done in a full Monte Carlo simulation. Therefore, an approach was chosen where only the most relevant sources of uncertainty were dynamically considered while the others were jointly accounted for by static error distributions from offline analysis. Secondly, the dominant sources of uncertainty vary over the wide range of forecasted catchments: In alpine headwater catchments, typically of a few hundred square kilometers in size, rainfall forecast uncertainty is the key factor for forecast uncertainty, with a magnitude dynamically changing with the prevailing predictability of the atmosphere. In lowland catchments encompassing several thousands of square kilometers, forecast uncertainty in the desired range (usually up to two days) is mainly dependent on upstream gauge observation quality, routing and unpredictable human impact such as reservoir operation. The determination of forecast uncertainty comprised the following steps: a) From comparison of gauge

Staged decision making based on probabilistic forecasting

Science.gov (United States)

Booister, Nikéh; Verkade, Jan; Werner, Micha; Cranston, Michael; Cumiskey, Lydia; Zevenbergen, Chris

2016-04-01

Flood forecasting systems reduce, but cannot eliminate uncertainty about the future. Probabilistic forecasts explicitly show that uncertainty remains. However, as - compared to deterministic forecasts - a dimension is added ('probability' or 'likelihood'), with this added dimension decision making is made slightly more complicated. A technique of decision support is the cost-loss approach, which defines whether or not to issue a warning or implement mitigation measures (risk-based method). With the cost-loss method a warning will be issued when the ratio of the response costs to the damage reduction is less than or equal to the probability of the possible flood event. This cost-loss method is not widely used, because it motivates based on only economic values and is a technique that is relatively static (no reasoning, yes/no decision). Nevertheless it has high potential to improve risk-based decision making based on probabilistic flood forecasting because there are no other methods known that deal with probabilities in decision making. The main aim of this research was to explore the ways of making decision making based on probabilities with the cost-loss method better applicable in practice. The exploration began by identifying other situations in which decisions were taken based on uncertain forecasts or predictions. These cases spanned a range of degrees of uncertainty: from known uncertainty to deep uncertainty. Based on the types of uncertainties, concepts of dealing with situations and responses were analysed and possible applicable concepts where chosen. Out of this analysis the concepts of flexibility and robustness appeared to be fitting to the existing method. Instead of taking big decisions with bigger consequences at once, the idea is that actions and decisions are cut-up into smaller pieces and finally the decision to implement is made based on economic costs of decisions and measures and the reduced effect of flooding. The more lead-time there is in

An interdisciplinary approach for earthquake modelling and forecasting

Science.gov (United States)

Han, P.; Zhuang, J.; Hattori, K.; Ogata, Y.

2016-12-01

Earthquake is one of the most serious disasters, which may cause heavy casualties and economic losses. Especially in the past two decades, huge/mega earthquakes have hit many countries. Effective earthquake forecasting (including time, location, and magnitude) becomes extremely important and urgent. To date, various heuristically derived algorithms have been developed for forecasting earthquakes. Generally, they can be classified into two types: catalog-based approaches and non-catalog-based approaches. Thanks to the rapid development of statistical seismology in the past 30 years, now we are able to evaluate the performances of these earthquake forecast approaches quantitatively. Although a certain amount of precursory information is available in both earthquake catalogs and non-catalog observations, the earthquake forecast is still far from satisfactory. In most case, the precursory phenomena were studied individually. An earthquake model that combines self-exciting and mutually exciting elements was developed by Ogata and Utsu from the Hawkes process. The core idea of this combined model is that the status of the event at present is controlled by the event itself (self-exciting) and all the external factors (mutually exciting) in the past. In essence, the conditional intensity function is a time-varying Poisson process with rate λ(t), which is composed of the background rate, the self-exciting term (the information from past seismic events), and the external excitation term (the information from past non-seismic observations). This model shows us a way to integrate the catalog-based forecast and non-catalog-based forecast. Against this background, we are trying to develop a new earthquake forecast model which combines catalog-based and non-catalog-based approaches.

Short-term wind power combined forecasting based on error forecast correction

International Nuclear Information System (INIS)

Liang, Zhengtang; Liang, Jun; Wang, Chengfu; Dong, Xiaoming; Miao, Xiaofeng

2016-01-01

Highlights: • The correlation relationships of short-term wind power forecast errors are studied. • The correlation analysis method of the multi-step forecast errors is proposed. • A strategy selecting the input variables for the error forecast models is proposed. • Several novel combined models based on error forecast correction are proposed. • The combined models have improved the short-term wind power forecasting accuracy. - Abstract: With the increasing contribution of wind power to electric power grids, accurate forecasting of short-term wind power has become particularly valuable for wind farm operators, utility operators and customers. The aim of this study is to investigate the interdependence structure of errors in short-term wind power forecasting that is crucial for building error forecast models with regression learning algorithms to correct predictions and improve final forecasting accuracy. In this paper, several novel short-term wind power combined forecasting models based on error forecast correction are proposed in the one-step ahead, continuous and discontinuous multi-step ahead forecasting modes. First, the correlation relationships of forecast errors of the autoregressive model, the persistence method and the support vector machine model in various forecasting modes have been investigated to determine whether the error forecast models can be established by regression learning algorithms. Second, according to the results of the correlation analysis, the range of input variables is defined and an efficient strategy for selecting the input variables for the error forecast models is proposed. Finally, several combined forecasting models are proposed, in which the error forecast models are based on support vector machine/extreme learning machine, and correct the short-term wind power forecast values. The data collected from a wind farm in Hebei Province, China, are selected as a case study to demonstrate the effectiveness of the proposed

Technology and demand forecasting for carbon capture and storage technology in South Korea

International Nuclear Information System (INIS)

Shin, Jungwoo; Lee, Chul-Yong; Kim, Hongbum

2016-01-01

Among the various alternatives available to reduce greenhouse gas (GHG) emissions, carbon capture and storage (CCS) is considered to be a prospective technology that could both improve economic growth and meet GHG emission reduction targets. Despite the importance of CCS, however, studies of technology and demand forecasting for CCS are scarce. This study bridges this gap in the body of knowledge on this topic by forecasting CCS technology and demand based on an integrated model. For technology forecasting, a logistic model and patent network analysis are used to compare the competitiveness of CCS technology for selected countries. For demand forecasting, a competition diffusion model is adopted to consider competition among renewable energies and forecast demand. The results show that the number of patent applications for CCS technology will increase to 16,156 worldwide and to 4,790 in Korea by 2025. We also find that the United States has the most competitive CCS technology followed by Korea and France. Moreover, about 5 million tCO_2e of GHG will be reduced by 2040 if CCS technology is adopted in Korea after 2020. - Highlights: • Carbon capture and storage (CCS) can help mitigate climate change globally. • It can both improve economic growth and meet GHG emission reduction targets. • We forecast CCS technology and demand based on an integrated model. • The US has the most competitive CCS technology followed by Korea and France. • 5 million tCO_2e of GHG will be reduced by 2040 if CCS is adopted in Korea.

CBO’s Revenue Forecasting Record

Science.gov (United States)

2015-11-01

by squaring the errors, it places a greater weight on larger deviations. The mean absolute error is an easier measure to understand , but the RMSE... macroeconomic measures like GDP as a guide because that relationship has been significantly altered over time by changes to provisions of tax law. Instead...CBO projects revenues largely by identifying the macroeconomic variables in its economic forecasts that constitute the bases on which the various

ECONOMETRIC FORECAST OF AGRICULTURAL SECTOR INVESTING IN LVOV REGION

Directory of Open Access Journals (Sweden)

Rostyslav Lytvyn

2014-07-01

Full Text Available Purpose of economic processes forecasting in agriculture is more relevant and urgent in recent years with application of applied econometric methods. In represented research paper, these methods are used to forecast investment and the main agricultural industry indicators of Lvov region of Ukraine. The linear trend model, the parabolic trend model and the exponential trend model were elaborated from the period from 2000 to 2009 in this scientific study using applied statistical tool STATGRAFICS and EXCEL spreadsheets. And with assistance of these models forecast for investment on the basis of data of essential indicators of agrarian sector of the region for 2010 and 2011 was made. All models with probability р=0,95 are adequate experimental data for 2000-2009 years, that allow to make the forecast of investments and main agricultural indicators of the researched region by these models for 2010 and 2011 years. Nevertheless, it should be pointed out that, because of small amount of input data analysis of regression equations coefficients have more qualitative than quantitative influence upon resulting variable y6.

A new spinning reserve requirement forecast method for deregulated electricity markets

International Nuclear Information System (INIS)

Amjady, Nima; Keynia, Farshid

2010-01-01

Ancillary services are necessary for maintaining the security and reliability of power systems and constitute an important part of trade in competitive electricity markets. Spinning Reserve (SR) is one of the most important ancillary services for saving power system stability and integrity in response to contingencies and disturbances that continuously occur in the power systems. Hence, an accurate day-ahead forecast of SR requirement helps the Independent System Operator (ISO) to conduct a reliable and economic operation of the power system. However, SR signal has complex, non-stationary and volatile behavior along the time domain and depends greatly on system load. In this paper, a new hybrid forecast engine is proposed for SR requirement prediction. The proposed forecast engine has an iterative training mechanism composed of Levenberg-Marquadt (LM) learning algorithm and Real Coded Genetic Algorithm (RCGA), implemented on the Multi-Layer Perceptron (MLP) neural network. The proposed forecast methodology is examined by means of real data of Pennsylvania-New Jersey-Maryland (PJM) electricity market and the California ISO (CAISO) controlled grid. The obtained forecast results are presented and compared with those of the other SR forecast methods. (author)

A new spinning reserve requirement forecast method for deregulated electricity markets

Energy Technology Data Exchange (ETDEWEB)

Amjady, Nima; Keynia, Farshid [Department of Electrical Engineering, Semnan University, Semnan (Iran)

2010-06-15

Ancillary services are necessary for maintaining the security and reliability of power systems and constitute an important part of trade in competitive electricity markets. Spinning Reserve (SR) is one of the most important ancillary services for saving power system stability and integrity in response to contingencies and disturbances that continuously occur in the power systems. Hence, an accurate day-ahead forecast of SR requirement helps the Independent System Operator (ISO) to conduct a reliable and economic operation of the power system. However, SR signal has complex, non-stationary and volatile behavior along the time domain and depends greatly on system load. In this paper, a new hybrid forecast engine is proposed for SR requirement prediction. The proposed forecast engine has an iterative training mechanism composed of Levenberg-Marquadt (LM) learning algorithm and Real Coded Genetic Algorithm (RCGA), implemented on the Multi-Layer Perceptron (MLP) neural network. The proposed forecast methodology is examined by means of real data of Pennsylvania-New Jersey-Maryland (PJM) electricity market and the California ISO (CAISO) controlled grid. The obtained forecast results are presented and compared with those of the other SR forecast methods. (author)

Fuel cycle forecasting - there are forecasts and there are forecasts

International Nuclear Information System (INIS)

Puechl, K.H.

1975-01-01

The FORECAST-NUCLEAR computer program described recognizes that forecasts are made to answer a variety of questions and, therefore, that no single forecast is universally appropriate. Also, it recognizes that no two individuals will completely agree as to the input data that are appropriate for obtaining an answer to even a single simple question. Accordingly, the program was written from a utilitarian standpoint: it allows working with multiple projections; data inputting is simple to allow game-playing; computation time is short to minimize the cost of 'what if' assessements; and detail is internally carried to allow meaningful analysis. (author)

Fuel cycle forecasting - there are forecasts and there are forecasts

Energy Technology Data Exchange (ETDEWEB)

Puechl, K H

1975-12-01

The FORECAST-NUCLEAR computer program described recognizes that forecasts are made to answer a variety of questions and, therefore, that no single forecast is universally appropriate. Also, it recognizes that no two individuals will completely agree as to the input data that are appropriate for obtaining an answer to even a single simple question. Accordingly, the program was written from a utilitarian standpoint: it allows working with multiple projections; data inputting is simple to allow game-playing; computation time is short to minimize the cost of 'what if' assessements; and detail is internally carried to allow meaningful analysis.

Sales Forecasting in the Context of Seasonal Activities and Company Sustainable Growth

Directory of Open Access Journals (Sweden)

Ion Stancu

2015-08-01

Full Text Available The paper presents the use of the “time series model” to forecast the quarterly and yearly sales for a company with business seasonality. These sales forecasts will represent the fundamental basis for estimating the external financing, using the percentage to sales method. Sales growth rates are afterwards analysed in the context of ensuring a sustainable and self-financed growth. We focus on establishing the forecasted financial structure of the external financial requirements both in the context of using the reinvested profit complemented with credit, maintaining the debt rate constant, and in the context of total internal funding of the company economic growth, from reinvested profit.

Forecasting Economic, Social and Environmental Growth in the Sanitary and Service Sector Based on Thailand's Sustainable Development Policy

Directory of Open Access Journals (Sweden)

Pruethsan Sutthichaimethee

2018-01-01

Full Text Available The purpose of this study is to forecast the long run implementation of Thailand’s sustainable development policy in three main aspects, including economic, social and environmental aspect for the the sanitary and service sectors from 2016 until 2045. According to the national data for the years 2000–2015, based on the ARIMAX model, it has been found that Thai economy system is potentially changed and growing rapidly by 25.76%, the population has grown by 7.15%, and the Greenhouse gas emissions will gradually increase by 49.65%, in the year 2045. However, based on the analysis above, if Thailand fails to run the afore-mentioned policy properly, it will be difficulto successfully implement sustainable development, because the increased emission is moving in the same direction with economy and social aspect of Thailand.

Stationarity test with a direct test for heteroskedasticity in exchange rate forecasting models

Science.gov (United States)

Khin, Aye Aye; Chau, Wong Hong; Seong, Lim Chee; Bin, Raymond Ling Leh; Teng, Kevin Low Lock

2017-05-01

Global economic has been decreasing in the recent years, manifested by the greater exchange rates volatility on international commodity market. This study attempts to analyze some prominent exchange rate forecasting models on Malaysian commodity trading: univariate ARIMA, ARCH and GARCH models in conjunction with stationarity test on residual diagnosis direct testing of heteroskedasticity. All forecasting models utilized the monthly data from 1990 to 2015. Given a total of 312 observations, the data used to forecast both short-term and long-term exchange rate. The forecasting power statistics suggested that the forecasting performance of ARIMA (1, 1, 1) model is more efficient than the ARCH (1) and GARCH (1, 1) models. For ex-post forecast, exchange rate was increased from RM 3.50 per USD in January 2015 to RM 4.47 per USD in December 2015 based on the baseline data. For short-term ex-ante forecast, the analysis results indicate a decrease in exchange rate on 2016 June (RM 4.27 per USD) as compared with 2015 December. A more appropriate forecasting method of exchange rate is vital to aid the decision-making process and planning on the sustainable commodities' production in the world economy.

Flood Forecasting Based on TIGGE Precipitation Ensemble Forecast

Directory of Open Access Journals (Sweden)

Jinyin Ye

2016-01-01

Full Text Available TIGGE (THORPEX International Grand Global Ensemble was a major part of the THORPEX (Observing System Research and Predictability Experiment. It integrates ensemble precipitation products from all the major forecast centers in the world and provides systematic evaluation on the multimodel ensemble prediction system. Development of meteorologic-hydrologic coupled flood forecasting model and early warning model based on the TIGGE precipitation ensemble forecast can provide flood probability forecast, extend the lead time of the flood forecast, and gain more time for decision-makers to make the right decision. In this study, precipitation ensemble forecast products from ECMWF, NCEP, and CMA are used to drive distributed hydrologic model TOPX. We focus on Yi River catchment and aim to build a flood forecast and early warning system. The results show that the meteorologic-hydrologic coupled model can satisfactorily predict the flow-process of four flood events. The predicted occurrence time of peak discharges is close to the observations. However, the magnitude of the peak discharges is significantly different due to various performances of the ensemble prediction systems. The coupled forecasting model can accurately predict occurrence of the peak time and the corresponding risk probability of peak discharge based on the probability distribution of peak time and flood warning, which can provide users a strong theoretical foundation and valuable information as a promising new approach.

Ticket consumption forecast for Brazilian championship games

Directory of Open Access Journals (Sweden)

Adriana Bruscato Bortoluzzo

Full Text Available Abstract For the efficiency of sales and marketing management of athletic clubs, it is crucial to find a way to appropriately estimate the level of demand for sporting events. More precise estimates allow for an appropriate financial and operational plan and a higher quality of service delivered to the fans. The focus of this study is to analyze and forecast the ticket consumption for soccer games in Brazilian stadiums. We compare the results of the regression model with normally distributed errors (benchmark, the TOBIT model and the Gamma generalized linear model. The models include explanatory variables related to the economic environment, product quality, as well as monetary and non-monetary incentives that people are given to attend sporting events at stadiums. We show that most of these variables are statistically significant to explain the amount of fans that go to stadiums. We used different measures of accuracy to evaluate the performance of demand forecasts and concluded that Gamma generalized linear model presented better results to forecast the ticket consumption for Brazilian championship games, when compared to a benchmark.

Forecasting Housing Approvals in Australia: Do Forecasters Herd?

DEFF Research Database (Denmark)

Stadtmann, Georg; Pierdzioch; Rülke

2012-01-01

Price trends in housing markets may reflect herding of market participants. A natural question is whether such herding, to the extent that it occurred, reflects herding in forecasts of professional forecasters. Using more than 6,000 forecasts of housing approvals for Australia, we did not find...

A seasonal agricultural drought forecast system for food-insecure regions of East Africa

Science.gov (United States)

Shukla, Shraddhanand; McNally, Amy; Husak, Gregory; Funk, Christopher C.

2014-01-01

 The increasing food and water demands of East Africa's growing population are stressing the region's inconsistent water resources and rain-fed agriculture. More accurate seasonal agricultural drought forecasts for this region can inform better water and agricultural management decisions, support optimal allocation of the region's water resources, and mitigate socio-economic losses incurred by droughts and floods. Here we describe the development and implementation of a seasonal agricultural drought forecast system for East Africa (EA) that provides decision support for the Famine Early Warning Systems Network's science team. We evaluate this forecast system for a region of equatorial EA (2° S to 8° N, and 36° to 46° E) for the March-April-May growing season. This domain encompasses one of the most food insecure, climatically variable and socio-economically vulnerable regions in EA, and potentially the world: this region has experienced famine as recently as 2011. To assess the agricultural outlook for the upcoming season our forecast system simulates soil moisture (SM) scenarios using the Variable Infiltration Capacity (VIC) hydrologic model forced with climate scenarios for the upcoming season. First, to show that the VIC model is appropriate for this application we forced the model with high quality atmospheric observations and found that the resulting SM values were consistent with the Food and Agriculture Organization's (FAO's) Water Requirement Satisfaction Index (WRSI), an index used by FEWS NET to estimate crop yields. Next we tested our forecasting system with hindcast runs (1993–2012). We found that initializing SM forecasts with start-of-season (5 March) SM conditions resulted in useful SM forecast skill (> 0.5 correlation) at 1-month, and in some cases at 3 month lead times. Similarly, when the forecast was initialized with mid-season (i.e. 5 April) SM conditions the skill until the end-of-season improved. This shows that early-season rainfall

Short-term forecasting of internal migration.

Science.gov (United States)

Frees, E W

1993-11-01

A new methodological approach to the forecasting of short-term trends in internal migration in the United States is introduced. "Panel-data (or longitudinal-data) models are used to represent the relationship between destination-specific out-migration and several explanatory variables. The introduction of this methodology into the migration literature is possible because of some new and improved databases developed by the U.S. Bureau of the Census.... Data from the Bureau of Economic Analysis are used to investigate the incorporation of exogenous factors as variables in the model." The exogenous factors considered include employment and unemployment, income, population size of state, and distance between states. The author concludes that "when one...includes additional parameters that are estimable in longitudinal-data models, it turns out that there is little additional information in the exogenous factors that is useful for forecasting." excerpt

Forecasting freight flows

DEFF Research Database (Denmark)

Lyk-Jensen, Stéphanie

2011-01-01

Trade patterns and transport markets are changing as a result of the growth and globalization of international trade, and forecasting future freight flow has to rely on trade forecasts. Forecasting freight flows is critical for matching infrastructure supply to demand and for assessing investment...... constitute a valuable input to freight models for forecasting future capacity problems.......Trade patterns and transport markets are changing as a result of the growth and globalization of international trade, and forecasting future freight flow has to rely on trade forecasts. Forecasting freight flows is critical for matching infrastructure supply to demand and for assessing investment...

Turkey's short-term gross annual electricity demand forecast by fuzzy logic approach

Energy Technology Data Exchange (ETDEWEB)

Kucukali, Serhat [Civil Engineering Department, Zonguldak Karaelmas University, Incivez 67100, Zonguldak (Turkey); Baris, Kemal [Mining Engineering Department, Zonguldak Karaelmas University, Incivez 67100, Zonguldak (Turkey)

2010-05-15

This paper aims to forecast Turkey's short-term gross annual electricity demand by applying fuzzy logic methodology while general information on economical, political and electricity market conditions of the country is also given. Unlike most of the other forecast models about Turkey's electricity demand, which usually uses more than one parameter, gross domestic product (GDP) based on purchasing power parity was the only parameter used in the model. Proposed model made good predictions and captured the system dynamic behavior covering the years of 1970-2014. The model yielded average absolute relative errors of 3.9%. Furthermore, the model estimates a 4.5% decrease in electricity demand of Turkey in 2009 and the electricity demand growth rates are projected to be about 4% between 2010 and 2014. It is concluded that forecasting the Turkey's short-term gross electricity demand with the country's economic performance will provide more reliable projections. Forecasting the annual electricity consumption of a country could be made by any designer with the help of the fuzzy logic procedure described in this paper. The advantage of this model lies on the ability to mimic the human thinking and reasoning. (author)

Combining Unsupervised and Supervised Statistical Learning Methods for Currency Exchange Rate Forecasting

OpenAIRE

Vasiljeva, Polina

2016-01-01

In this thesis we revisit the challenging problem of forecasting currency exchange rate. We combine machine learning methods such as agglomerative hierarchical clustering and random forest to construct a two-step approach for predicting movements in currency exchange prices of the Swedish krona and the US dollar. We use a data set with over 200 predictors comprised of different financial and macro-economic time series and their transformations. We perform forecasting for one week ahead with d...

Robust forecast comparison

OpenAIRE

Jin, Sainan; Corradi, Valentina; Swanson, Norman

2015-01-01

Forecast accuracy is typically measured in terms of a given loss function. However, as a consequence of the use of misspecified models in multiple model comparisons, relative forecast rankings are loss function dependent. This paper addresses this issue by using a novel criterion for forecast evaluation which is based on the entire distribution of forecast errors. We introduce the concepts of general-loss (GL) forecast superiority and convex-loss (CL) forecast superiority, and we establish a ...

A gain-loss framework based on ensemble flow forecasts to switch the urban drainage-wastewater system management towards energy optimization during dry periods

Science.gov (United States)

Courdent, Vianney; Grum, Morten; Munk-Nielsen, Thomas; Mikkelsen, Peter S.

2017-05-01

Precipitation is the cause of major perturbation to the flow in urban drainage and wastewater systems. Flow forecasts, generated by coupling rainfall predictions with a hydrologic runoff model, can potentially be used to optimize the operation of integrated urban drainage-wastewater systems (IUDWSs) during both wet and dry weather periods. Numerical weather prediction (NWP) models have significantly improved in recent years, having increased their spatial and temporal resolution. Finer resolution NWP are suitable for urban-catchment-scale applications, providing longer lead time than radar extrapolation. However, forecasts are inevitably uncertain, and fine resolution is especially challenging for NWP. This uncertainty is commonly addressed in meteorology with ensemble prediction systems (EPSs). Handling uncertainty is challenging for decision makers and hence tools are necessary to provide insight on ensemble forecast usage and to support the rationality of decisions (i.e. forecasts are uncertain and therefore errors will be made; decision makers need tools to justify their choices, demonstrating that these choices are beneficial in the long run). This study presents an economic framework to support the decision-making process by providing information on when acting on the forecast is beneficial and how to handle the EPS. The relative economic value (REV) approach associates economic values with the potential outcomes and determines the preferential use of the EPS forecast. The envelope curve of the REV diagram combines the results from each probability forecast to provide the highest relative economic value for a given gain-loss ratio. This approach is traditionally used at larger scales to assess mitigation measures for adverse events (i.e. the actions are taken when events are forecast). The specificity of this study is to optimize the energy consumption in IUDWS during low-flow periods by exploiting the electrical smart grid market (i.e. the actions are taken

Short-term Probabilistic Forecasting of Wind Speed Using Stochastic Differential Equations

DEFF Research Database (Denmark)

Iversen, Jan Emil Banning; Morales González, Juan Miguel; Møller, Jan Kloppenborg

2016-01-01

and uncertain nature. In this paper, we propose a modeling framework for wind speed that is based on stochastic differential equations. We show that stochastic differential equations allow us to naturally capture the time dependence structure of wind speed prediction errors (from 1 up to 24 hours ahead) and......It is widely accepted today that probabilistic forecasts of wind power production constitute valuable information for both wind power producers and power system operators to economically exploit this form of renewable energy, while mitigating the potential adverse effects related to its variable......, most importantly, to derive point and quantile forecasts, predictive distributions, and time-path trajectories (also referred to as scenarios or ensemble forecasts), all by one single stochastic differential equation model characterized by a few parameters....

Challenges for operational forecasting and early warning of rainfall induced landslides

Science.gov (United States)

Guzzetti, Fausto

2017-04-01

In many areas of the world, landslides occur every year, claiming lives and producing severe economic and environmental damage. Many of the landslides with human or economic consequences are the result of intense or prolonged rainfall. For this reason, in many areas the timely forecast of rainfall-induced landslides is of both scientific interest and social relevance. In the recent years, there has been a mounting interest and an increasing demand for operational landslide forecasting, and for associated landslide early warning systems. Despite the relevance of the problem, and the increasing interest and demand, only a few systems have been designed, and are currently operated. Inspection of the - limited - literature on operational landslide forecasting, and on the associated early warning systems, reveals that common criteria and standards for the design, the implementation, the operation, and the evaluation of the performances of the systems, are lacking. This limits the possibility to compare and to evaluate the systems critically, to identify their inherent strengths and weaknesses, and to improve the performance of the systems. Lack of common criteria and of established standards can also limit the credibility of the systems, and consequently their usefulness and potential practical impact. Landslides are very diversified phenomena, and the information and the modelling tools used to attempt landslide forecasting vary largely, depending on the type and size of the landslides, the extent of the geographical area considered, the timeframe of the forecasts, and the scope of the predictions. Consequently, systems for landslide forecasting and early warning can be designed and implemented at several different geographical scales, from the local (site or slope specific) to the regional, or even national scale. The talk focuses on regional to national scale landslide forecasting systems, and specifically on operational systems based on empirical rainfall threshold

The Research of Regression Method for Forecasting Monthly Electricity Sales Considering Coupled Multi-factor

Science.gov (United States)

Wang, Jiangbo; Liu, Junhui; Li, Tiantian; Yin, Shuo; He, Xinhui

2018-01-01

The monthly electricity sales forecasting is a basic work to ensure the safety of the power system. This paper presented a monthly electricity sales forecasting method which comprehensively considers the coupled multi-factors of temperature, economic growth, electric power replacement and business expansion. The mathematical model is constructed by using regression method. The simulation results show that the proposed method is accurate and effective.

Forecasting tourist arrivals to balearic islands using genetic programming

Directory of Open Access Journals (Sweden)

Rosselló-Nadal, Jaume

2007-01-01

Full Text Available Traditionally, univariate time-series models have largely dominated forecasting for international tourism demand. In this paper, the ability of a Genetic Program (GP to predict monthly tourist arrivals from UK and Germany to Balearic Islands (Spain is explored. GP has already been employed satisfactorily in different scientific areas, including economics. The technique shows different advantages regarding to other forecasting methods. Firstly, it does not assume a priori a rigid functional form of the model. Secondly, it is more robust and easy-to-use than other non-parametric methods. Finally, it provides explicitly a mathematical equation which allows a simple ad hoc interpretation of the results. Comparing the performance of the proposed technique against other method commonly used in tourism forecasting (no-change model, Moving Average and ARIMA, the empirical results reveal that GP can be a valuable tool in this field.

Effects of Forecasts on the Revisions of Concurrent Seasonally Adjusted Data Using the X-11 Seasonal Adjustment Procedure.

Science.gov (United States)

Bobbitt, Larry; Otto, Mark

Three Autoregressive Integrated Moving Averages (ARIMA) forecast procedures for Census Bureau X-11 concurrent seasonal adjustment were empirically tested. Forty time series from three Census Bureau economic divisions (business, construction, and industry) were analyzed. Forecasts were obtained from fitted seasonal ARIMA models augmented with…

Understanding Farmers’ Forecast Use from Their Beliefs, Values, Social Norms, and Perceived Obstacles

Science.gov (United States)

Hu, Qi; Pytlik Zillig, Lisa M.; Lynne, Gary D.; Tomkins, Alan J.; Waltman, William J.; Hayes, Michael J.; Hubbard, Kenneth G.; Artikov, Ikrom; Hoffman, Stacey J.; Wilhite, Donald A.

2006-09-01

Although the accuracy of weather and climate forecasts is continuously improving and new information retrieved from climate data is adding to the understanding of climate variation, use of the forecasts and climate information by farmers in farming decisions has changed little. This lack of change may result from knowledge barriers and psychological, social, and economic factors that undermine farmer motivation to use forecasts and climate information. According to the theory of planned behavior (TPB), the motivation to use forecasts may arise from personal attitudes, social norms, and perceived control or ability to use forecasts in specific decisions. These attributes are examined using data from a survey designed around the TPB and conducted among farming communities in the region of eastern Nebraska and the western U.S. Corn Belt. There were three major findings: 1) the utility and value of the forecasts for farming decisions as perceived by farmers are, on average, around 3.0 on a 0 7 scale, indicating much room to improve attitudes toward the forecast value. 2) The use of forecasts by farmers to influence decisions is likely affected by several social groups that can provide “expert viewpoints” on forecast use. 3) A major obstacle, next to forecast accuracy, is the perceived identity and reliability of the forecast makers. Given the rapidly increasing number of forecasts in this growing service business, the ambiguous identity of forecast providers may have left farmers confused and may have prevented them from developing both trust in forecasts and skills to use them. These findings shed light on productive avenues for increasing the influence of forecasts, which may lead to greater farming productivity. In addition, this study establishes a set of reference points that can be used for comparisons with future studies to quantify changes in forecast use and influence.

Forecasting Skill

Science.gov (United States)

1981-01-01

for the third and fourth day precipitation forecasts. A marked improvement was shown for the consensus 24 hour precipitation forecast, and small... Zuckerberg (1980) found a small long term skill increase in forecasts of heavy snow events for nine eastern cities. Other National Weather Service...and maximum temperature) are each awarded marks 2, 1, or 0 according to whether the forecast is correct, 8 - *- -**■*- ———"—- - -■ t0m 1 MM—IB I

Short-term forecasting of Czech quarterly GDP using monthly indicators

Czech Academy of Sciences Publication Activity Database

Arnoštová, K.; Havrlant, D.; Růžička, L.; Tóth, Peter

2011-01-01

Roč. 61, č. 6 (2011), s. 566-583 ISSN 0015-1920 Institutional research plan: CEZ:MSM0021620846 Keywords : GDP forecasting * bridge models * principal components Subject RIV: AH - Economics Impact factor: 0.346, year: 2011 http://journal.fsv.cuni.cz/storage/1235_toth.pdf

Macroeconomic Forecasts in Models with Bayesian Averaging of Classical Estimates

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Piotr Białowolski

2012-03-01

Full Text Available The aim of this paper is to construct a forecasting model oriented on predicting basic macroeconomic variables, namely: the GDP growth rate, the unemployment rate, and the consumer price inflation. In order to select the set of the best regressors, Bayesian Averaging of Classical Estimators (BACE is employed. The models are atheoretical (i.e. they do not reflect causal relationships postulated by the macroeconomic theory and the role of regressors is played by business and consumer tendency survey-based indicators. Additionally, survey-based indicators are included with a lag that enables to forecast the variables of interest (GDP, unemployment, and inflation for the four forthcoming quarters without the need to make any additional assumptions concerning the values of predictor variables in the forecast period.  Bayesian Averaging of Classical Estimators is a method allowing for full and controlled overview of all econometric models which can be obtained out of a particular set of regressors. In this paper authors describe the method of generating a family of econometric models and the procedure for selection of a final forecasting model. Verification of the procedure is performed by means of out-of-sample forecasts of main economic variables for the quarters of 2011. The accuracy of the forecasts implies that there is still a need to search for new solutions in the atheoretical modelling.

A Review of Demand Forecast for Charging Facilities of Electric Vehicles

Science.gov (United States)

Jiming, Han; Lingyu, Kong; Yaqi, Shen; Ying, Li; Wenting, Xiong; Hao, Wang

2017-05-01

The demand forecasting of charging facilities is the basis of its planning and locating, which has important role in promoting the development of electric vehicles and alleviating the energy crisis. Firstly, this paper analyzes the influence of the charging mode, the electric vehicle population and the user’s charging habits on the demand of charging facilities; Secondly, considering these factors, the recent analysis on charging and switching equipment demand forecast is divided into two methods—forecast based on electric vehicle population and user traveling behavior. Then, the article analyzes the two methods and puts forward the advantages and disadvantages. Finally, in view of the defects of current research, combined with the current situation of the development of the city and comprehensive consideration of economic, political, environmental and other factors, this paper proposes an improved demand forecasting method which has great practicability and pertinence and lays the foundation for the plan of city electric facilities.

Evaluating information in multiple horizon forecasts. The DOE's energy price forecasts

International Nuclear Information System (INIS)

Sanders, Dwight R.; Manfredo, Mark R.; Boris, Keith

2009-01-01

The United States Department of Energy's (DOE) quarterly price forecasts for energy commodities are examined to determine the incremental information provided at the one-through four-quarter forecast horizons. A direct test for determining information content at alternative forecast horizons, developed by Vuchelen and Gutierrez [Vuchelen, J. and Gutierrez, M.-I. 'A Direct Test of the Information Content of the OECD Growth Forecasts.' International Journal of Forecasting. 21(2005):103-117.], is used. The results suggest that the DOE's price forecasts for crude oil, gasoline, and diesel fuel do indeed provide incremental information out to three-quarters ahead, while natural gas and electricity forecasts are informative out to the four-quarter horizon. In contrast, the DOE's coal price forecasts at two-, three-, and four-quarters ahead provide no incremental information beyond that provided for the one-quarter horizon. Recommendations of how to use these results for making forecast adjustments is also provided. (author)

Influence of wind energy forecast in deterministic and probabilistic sizing of reserves

Energy Technology Data Exchange (ETDEWEB)

Gil, A.; Torre, M. de la; Dominguez, T.; Rivas, R. [Red Electrica de Espana (REE), Madrid (Spain). Dept. Centro de Control Electrico

2010-07-01

One of the challenges in large-scale wind energy integration in electrical systems is coping with wind forecast uncertainties at the time of sizing generation reserves. These reserves must be sized large enough so that they don't compromise security of supply or the balance of the system, but economic efficiency must be also kept in mind. This paper describes two methods of sizing spinning reserves taking into account wind forecast uncertainties, deterministic using a probabilistic wind forecast and probabilistic using stochastic variables. The deterministic method calculates the spinning reserve needed by adding components each of them in order to overcome one single uncertainty: demand errors, the biggest thermal generation loss and wind forecast errors. The probabilistic method assumes that demand forecast errors, short-term thermal group unavailability and wind forecast errors are independent stochastic variables and calculates the probability density function of the three variables combined. These methods are being used in the case of the Spanish peninsular system, in which wind energy accounted for 14% of the total electrical energy produced in the year 2009 and is one of the systems in the world with the highest wind penetration levels. (orig.)

The role of central bank transparency for guiding private sector forecasts

OpenAIRE

Ehrmann, Michael; Eijffinger, Sylvester C W; Fratzscher, Marcel

2009-01-01

There is a broad consensus in the literature that costs of information processing and acquisition may generate costly disagreements in expectations among economic agents, and that central banks may play a central role in reducing such dispersion in expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies...

On the economic benefit of utility based estimation of a volatility model

OpenAIRE

Adam Clements; Annastiina Silvennoinen

2009-01-01

Forecasts of asset return volatility are necessary for many financial applications, including portfolio allocation. Traditionally, the parameters of econometric models used to generate volatility forecasts are estimated in a statistical setting and subsequently used in an economic setting such as portfolio allocation. Differences in the criteria under which the model is estimated and applied may inhibit reduce the overall economic benefit of a model in the context of portfolio allocation. Thi...

Econometric Forecasting Models for Air Traffic Passenger of Indonesia

Directory of Open Access Journals (Sweden)

Viktor Suryan

2017-01-01

Full Text Available One of the major benefits of the air transport services operating in bigger countries is the fact that they provide a vital social economic linkage. This study is an attempt to establish the determinants of the passenger air traffic in Indonesia. The main objective of the study is to determine the economic variables that affect the number of airline passengers using the econometrics model of projection with an emphasis on the use of panel data and to determine the economic variables that affect the number of airline passengers using the econometrics model of projection with an emphasis on the use of time series data. This research also predicts the upcoming number of air traffic passenger until 2030. Air transportation and the economic activity in a country are interdependent. This work first uses the data at the country level and then at the selected airport level for review. The methodology used in this study has adopted the study for both normal regression and panel data regression techniques. Once all these steps are performed, the final equation is taken up for the forecast of the passenger inflow data in the Indonesian airports. To forecast the same, the forecasted numbers of the GDP (Gross Domestic Product and population (independent variables were chosen as a part of the literature review exercise are used. The result of this study shows the GDP per capita have significant related to a number of passengers which the elasticity 2.23 (time-series data and 1.889 for panel data. The exchange rate variable is unrelated to a number of passengers as shown in the value of elasticity. In addition, the total of population gives small value for the elasticity. Moreover, the number of passengers is also affected by the dummy variable (deregulation. With three scenarios: low, medium and high for GDP per capita, the percentage of growth for total number of air traffic passenger from the year 2015 to 2030 is 199.3%, 205.7%, and 320.9% respectively.

Forecasting optimal solar energy supply in Jiangsu Province (China): a systematic approach using hybrid of weather and energy forecast models.

Science.gov (United States)

Zhao, Xiuli; Asante Antwi, Henry; Yiranbon, Ethel

2014-01-01

The idea of aggregating information is clearly recognizable in the daily lives of all entities whether as individuals or as a group, since time immemorial corporate organizations, governments, and individuals as economic agents aggregate information to formulate decisions. Energy planning represents an investment-decision problem where information needs to be aggregated from credible sources to predict both demand and supply of energy. To do this there are varying methods ranging from the use of portfolio theory to managing risk and maximizing portfolio performance under a variety of unpredictable economic outcomes. The future demand for energy and need to use solar energy in order to avoid future energy crisis in Jiangsu province in China require energy planners in the province to abandon their reliance on traditional, "least-cost," and stand-alone technology cost estimates and instead evaluate conventional and renewable energy supply on the basis of a hybrid of optimization models in order to ensure effective and reliable supply. Our task in this research is to propose measures towards addressing optimal solar energy forecasting by employing a systematic optimization approach based on a hybrid of weather and energy forecast models. After giving an overview of the sustainable energy issues in China, we have reviewed and classified the various models that existing studies have used to predict the influences of the weather influences and the output of solar energy production units. Further, we evaluate the performance of an exemplary ensemble model which combines the forecast output of two popular statistical prediction methods using a dynamic weighting factor.

Forecasting Optimal Solar Energy Supply in Jiangsu Province (China: A Systematic Approach Using Hybrid of Weather and Energy Forecast Models

Directory of Open Access Journals (Sweden)

Xiuli Zhao

2014-01-01

Full Text Available The idea of aggregating information is clearly recognizable in the daily lives of all entities whether as individuals or as a group, since time immemorial corporate organizations, governments, and individuals as economic agents aggregate information to formulate decisions. Energy planning represents an investment-decision problem where information needs to be aggregated from credible sources to predict both demand and supply of energy. To do this there are varying methods ranging from the use of portfolio theory to managing risk and maximizing portfolio performance under a variety of unpredictable economic outcomes. The future demand for energy and need to use solar energy in order to avoid future energy crisis in Jiangsu province in China require energy planners in the province to abandon their reliance on traditional, “least-cost,” and stand-alone technology cost estimates and instead evaluate conventional and renewable energy supply on the basis of a hybrid of optimization models in order to ensure effective and reliable supply. Our task in this research is to propose measures towards addressing optimal solar energy forecasting by employing a systematic optimization approach based on a hybrid of weather and energy forecast models. After giving an overview of the sustainable energy issues in China, we have reviewed and classified the various models that existing studies have used to predict the influences of the weather influences and the output of solar energy production units. Further, we evaluate the performance of an exemplary ensemble model which combines the forecast output of two popular statistical prediction methods using a dynamic weighting factor.

Interval forecasting of cyber-attacks on industrial control systems

Science.gov (United States)

Ivanyo, Y. M.; Krakovsky, Y. M.; Luzgin, A. N.

2018-03-01

At present, cyber-security issues of industrial control systems occupy one of the key niches in a state system of planning and management Functional disruption of these systems via cyber-attacks may lead to emergencies related to loss of life, environmental disasters, major financial and economic damage, or disrupted activities of cities and settlements. There is then an urgent need to develop protection methods against cyber-attacks. This paper studied the results of cyber-attack interval forecasting with a pre-set intensity level of cyber-attacks. Interval forecasting is the forecasting of one interval from two predetermined ones in which a future value of the indicator will be obtained. For this, probability estimates of these events were used. For interval forecasting, a probabilistic neural network with a dynamic updating value of the smoothing parameter was used. A dividing bound of these intervals was determined by a calculation method based on statistical characteristics of the indicator. The number of cyber-attacks per hour that were received through a honeypot from March to September 2013 for the group ‘zeppo-norcal’ was selected as the indicator.

National Forecast Charts

Science.gov (United States)

code. Press enter or select the go button to submit request Local forecast by "City, St" or Prediction Center on Twitter NCEP Quarterly Newsletter WPC Home Analyses and Forecasts National Forecast to all federal, state, and local government web resources and services. National Forecast Charts

Three-Dimensional Visualisation as an Innovation Approach to Forecasting the City Budget Income

Directory of Open Access Journals (Sweden)

Markuts Yuliya I.

2013-11-01

Full Text Available Forecasting city budget income is a very important instrument of the budget management through which it is possible to assume the future financial influence of the current budget policy and economic tendencies for achievement of long-term plans and identify alternative ways of solution of existing problems. The goal of the article is development of a model for complex system analysis, economic assessment of execution and forecasting income of the budget of the city of Donetsk with the aim to make high quality, timely and efficient managerial decisions with respect to the budget on the basis of an innovation approach, which is a combination of methods of interpolation, imitation and three-dimensional visualisation. The result of the study is diagnostics of narrow places in execution of the city budget for the studied period of 2008 – 2012, detection of interconnected budget income items, identification of existing tendencies of execution of the budget income and forecasting the income part of the city budget for the period of 2013 – 2017.

EU Enlargement between Economic and Political Criteria

Directory of Open Access Journals (Sweden)

Romeo-Victor Ionescu

2013-05-01

Full Text Available The paper answers at two important questions: Is the EU able to support new adhering processes? and Is the Euro area able to enlarge in 2014? The comparative analysis in the paper covers four economic competitors: EU, USA, China and Japan, and is based on GDP growth rate, unemployment and inflation rates. The second part of the paper deals with an economic forecast during 2015-2016, focused on EU27, Euro area, Croatia and Latvia, in order to discuss the effects of the adhering to EU and Euro area. The results of the two-level analysis are supported by pertinent diagrams and annexes. The analysis uses a neutral statistical database – Eurostat – and dedicated forecast software. The main conclusion of the paper is that the adhering processes from 2013 and 2014 are based on economic and political criteria.

Forest resource economics and policy research

International Nuclear Information System (INIS)

Ellefson, P.V.

1989-01-01

This book contains chapters relating to forest economics. Included are the following chapters: Forecasting demand and supply of forest resources, products, and services; Wood fiber production; Forestry sector environmental effects

Leverage effect, economic policy uncertainty and realized volatility with regime switching

Science.gov (United States)

Duan, Yinying; Chen, Wang; Zeng, Qing; Liu, Zhicao

2018-03-01

In this study, we first investigate the impacts of leverage effect and economic policy uncertainty (EPU) on future volatility in the framework of regime switching. Out-of-sample results show that the HAR-RV including the leverage effect and economic policy uncertainty with regimes can achieve higher forecast accuracy than RV-type and GARCH-class models. Our robustness results further imply that these factors in the framework of regime switching can substantially improve the HAR-RV's forecast performance.

Forecasting telecommunication new service demand by analogy method and combined forecast

Directory of Open Access Journals (Sweden)

Lin Feng-Jenq

2005-01-01

Full Text Available In the modeling forecast field, we are usually faced with the more difficult problems of forecasting market demand for a new service or product. A new service or product is defined as that there is absence of historical data in this new market. We hardly use models to execute the forecasting work directly. In the Taiwan telecommunication industry, after liberalization in 1996, there are many new services opened continually. For optimal investment, it is necessary that the operators, who have been granted the concessions and licenses, forecast this new service within their planning process. Though there are some methods to solve or avoid this predicament, in this paper, we will propose one forecasting procedure that integrates the concept of analogy method and the idea of combined forecast to generate new service forecast. In view of the above, the first half of this paper describes the procedure of analogy method and the approach of combined forecast, and the second half provides the case of forecasting low-tier phone demand in Taiwan to illustrate this procedure's feasibility.

The Impact of Weather Forecasts of Various Lead Times on Snowmaking Decisions Made for the 2010 Vancouver Olympic Winter Games

Science.gov (United States)

Doyle, Chris

2014-01-01

The Vancouver 2010 Winter Olympics were held from 12 to 28 February 2010, and the Paralympic events followed 2 weeks later. During the Games, the weather posed a grave threat to the viability of one venue and created significant complications for the event schedule at others. Forecasts of weather with lead times ranging from minutes to days helped organizers minimize disruptions to sporting events and helped ensure all medal events were successfully completed. Of comparable importance, however, were the scenarios and forecasts of probable weather for the winter in advance of the Games. Forecasts of mild conditions at the time of the Games helped the Games' organizers mitigate what would have been very serious potential consequences for at least one venue. Snowmaking was one strategy employed well in advance of the Games to prepare for the expected conditions. This short study will focus on how operational decisions were made by the Games' organizers on the basis of both climatological and snowmaking forecasts during the pre-Games winter. An attempt will be made to quantify, economically, the value of some of the snowmaking forecasts made for the Games' operators. The results obtained indicate that although the economic value of the snowmaking forecast was difficult to determine, the Games' organizers valued the forecast information greatly. This suggests that further development of probabilistic forecasts for applications like pre-Games snowmaking would be worthwhile.

Exploring the interactions between forecast accuracy, risk perception and perceived forecast reliability in reservoir operator's decision to use forecast

Science.gov (United States)

Shafiee-Jood, M.; Cai, X.

2017-12-01

Advances in streamflow forecasts at different time scales offer a promise for proactive flood management and improved risk management. Despite the huge potential, previous studies have found that water resources managers are often not willing to incorporate streamflow forecasts information in decisions making, particularly in risky situations. While low accuracy of forecasts information is often cited as the main reason, some studies have found that implementation of streamflow forecasts sometimes is impeded by institutional obstacles and behavioral factors (e.g., risk perception). In fact, a seminal study by O'Connor et al. (2005) found that risk perception is the strongest determinant of forecast use while managers' perception about forecast reliability is not significant. In this study, we aim to address this issue again. However, instead of using survey data and regression analysis, we develop a theoretical framework to assess the user-perceived value of streamflow forecasts. The framework includes a novel behavioral component which incorporates both risk perception and perceived forecast reliability. The framework is then used in a hypothetical problem where reservoir operator should react to probabilistic flood forecasts with different reliabilities. The framework will allow us to explore the interactions among risk perception and perceived forecast reliability, and among the behavioral components and information accuracy. The findings will provide insights to improve the usability of flood forecasts information through better communication and education.

Seasonal forecasting of discharge for the Raccoon River, Iowa

Science.gov (United States)

Slater, Louise; Villarini, Gabriele; Bradley, Allen; Vecchi, Gabriel

2016-04-01

weighting procedures based on the computed potential skill (historical forecast accuracy) of the different GCMs. We find that the models describe the year-to-year variability in streamflow accurately, as well as the overall tendency towards increasing (and more variable) discharge over time. Surprisingly, forecast skill does not decrease markedly with lead time, and high flows tend to be well predicted, suggesting that these forecasts may have considerable practical applications. Further, the seasonal flow forecast accuracy is substantially improved by weighting the contribution of individual GCMs to the forecasts, and also by the inclusion of antecedent precipitation. Our results can provide critical information for adaptation strategies aiming to mitigate the costs and disruptions arising from flood and drought conditions, and allow us to determine how far in advance skillful forecasts can be issued. The availability of these discharge forecasts would have major societal and economic benefits for hydrology and water resources management, agriculture, disaster forecasts and prevention, energy, finance and insurance, food security, policy-making and public authorities, and transportation.

A Novel Approach to Forecasting the Bulk Freight Market

Directory of Open Access Journals (Sweden)

Vangelis Tsioumas

2017-03-01

Full Text Available The fast-paced and ever changing freight market compels maritime executives to use sound forecasting tools. This paper aims to enhance the forecasting accuracy of the Baltic Dry Index (BDI by means of developing a multivariate Vector Autoregressive model with exogenous variables (VARX. The proposed model incorporates the Chinese steel production, the dry bulk fleet development and a new composite indicator, the Dry Bulk Economic Climate Index (DBECI. The predictive power of this approach is evaluated against a univariate ARIMA framework, which serves as a benchmark model. The selection of explanatory variables and the model specification are validated using a series of pertinent tests. The results demonstrate that the VARX model outperforms the ARIMA approach, suggesting that the selected independent variables can substantially improve the accuracy of BDI forecasts. The present study is of interest to maritime practitioners, as it provides useful insights into the direction of the freight market and allows them to make informed decisions.

Contingent valuation study of the benefits of seasonal climate forecasts for maize farmers in the Republic of Benin, West Africa

Directory of Open Access Journals (Sweden)

Cocou Jaurès Amegnaglo

2017-04-01

Full Text Available This study aims to assess the economic benefits of seasonal climate forecasts in West Africa based on a random survey of 354 maize farmers and to use the contingent valuation method. Results indicate that farmers need accurate seasonal climate forecasts between 1 and 2 months before the onset of rains. The most desirable dissemination channels are radio, local elders, local farmer meetings and extension agents. The most likely used farming strategies are change of: planting date, crop acreage, crop variety, and production intensification. The vast majority of farmers are willing to pay for seasonal climate forecasts, and the average annual economic value of seasonal climate forecasts are about USD 5492 for the 354 sampled farmers and USD 66.5 million dollar at the national level. Furthermore, benefits of seasonal climate forecasts are likely to increase with better access to farmer based organisation, to extension services, to financial services, to modern communication tools, intensity of use of fertilizer and with larger farm sizes. Seasonal climate forecasts are a source of improvement of farmers’ performance and the service should be integrated in extension programmes and in national agricultural development agenda.

AN ECONOMIC FORECAST AND POLICY PROSPECTS

OpenAIRE

Brinner, Roger E.

1992-01-01

The economy is stagnating today because everyone is waiting for someone else to restart the recovery. Consumers are deferring major purchases until job prospects are rosier. Businesses are pushing down their inventories and payrolls until their order books surge. In essence the economic fundamentals are sound, but at this point, we need a new catalyst for recovery. It is time to implement policies that directly stimulate investment including a self-financing equipment tax credit for productiv...

FINANCIAL FUTURE PROSPECT INVESTIGATION USING BANKRUPTCY FORECASTING MODELS IN HUNGARIAN MEAT PROCESSING INDUSTRY

Directory of Open Access Journals (Sweden)

Dalma Peto

2015-07-01

Full Text Available Our main research topic is the analysis of leading companies in the Hungarian meat processing industry in terms of liquidity criteria. We examine this scientific subject by application of financial indicators and several important bankruptcy forecasting models. In our thesis the emphasis is placed on the presentation and evaluation of business failure models. The topicality of the research subject is rooted in the economic crisis and recession, which made solvency a key issue. Maintaining the competitive position in the market and the ability to stay in competition depend on the capability to generate an appropriate level of net operative cash flow. The most important research questions are the following. Which financial methods can be used to predict and estimate the situation when a company is facing bankruptcy? Do bankruptcy forecasting models provide accurate forecasts and what conclusions can be drawn based on these results? In our study we present the actual economic situation and the main problems of the sector, select the sample companies, calculate and compare the applied financial ratios and the most relevant bankruptcy forecasting models. On the basis of annual reports concerning 2010-2013 interval we investigate the financial position of leading pork processing companies. We make a comprehensive and comparative analysis concerning capital structure, liquidity, and profitability; consequently identify risky processes and companies having high probability of insolvency. Finally, we demonstrate and evaluate the results of three traditional bankruptcy forecasting models (Altman, Springate, and Fulmer and four modern models (DA, LR, industrial DA and industrial LR.

Monthly electric energy demand forecasting with neural networks and Fourier series

International Nuclear Information System (INIS)

Gonzalez-Romera, E.; Jaramillo-Moran, M.A.; Carmona-Fernandez, D.

2008-01-01

Medium-term electric energy demand forecasting is a useful tool for grid maintenance planning and market research of electric energy companies. Several methods, such as ARIMA, regression or artificial intelligence, have been usually used to carry out those predictions. Some approaches include weather or economic variables, which strongly influence electric energy demand. Economic variables usually influence the general series trend, while weather provides a periodic behavior because of its seasonal nature. This work investigates the periodic behavior of the Spanish monthly electric demand series, obtained by rejecting the trend from the consumption series. A novel hybrid approach is proposed: the periodic behavior is forecasted with a Fourier series while the trend is predicted with a neural network. Satisfactory results have been obtained, with a lower than 2% MAPE, which improve those reached when only neural networks or ARIMA were used for the same purpose. (author)

Economic dynamics of all members of the United Nations

CERN Document Server

Chukwu, Ethelbert Nwakuche

2014-01-01

This book provides an enduring response to modern economic problems and the consequent crises, dealing with the economic modelling of nations and the forecasting of economic growth. The main arguments embodied constitute the creation of jobs and the restoration of economic growth, using the implicit acceptance of analysis on differential models and neutral systems for controlling the wealth of nations.

Application of SVR with chaotic GASA algorithm in cyclic electric load forecasting

International Nuclear Information System (INIS)

Zhang, Wen Yu; Hong, Wei-Chiang; Dong, Yucheng; Tsai, Gary; Sung, Jing-Tian; Fan, Guo-feng

2012-01-01

The electric load forecasting is complicated, and it sometimes reveals cyclic changes due to cyclic economic activities or climate seasonal nature, such as hourly peak in a working day, weekly peak in a business week, and monthly peak in a demand planned year. Hybridization of support vector regression (SVR) with chaotic sequence and evolutionary algorithms has successfully been applied to improve forecasting accuracy, and to effectively avoid trapping in a local optimum. However, it has not been widely explored to employ SVR-based model to deal with cyclic electric load forecasting. This paper will firstly investigate the potentiality of a novel hybrid algorithm, namely chaotic genetic algorithm-simulated annealing algorithm (CGASA), with an SVR model to improve load forecasting accurate performance. In which, the proposed CGASA employs internal randomness of chaotic iterations to overcome premature local optimum. Secondly, the seasonal mechanism will then be applied to well adjust the cyclic load tendency. Finally, a numerical example from an existed reference is employed to compare the forecasting performance of the proposed SSVRCGASA model. The forecasting results show that the SSVRCGASA model yields more accurate forecasting results than ARIMA and TF-ε-SVR-SA models. -- Highlights: ► Hybridizing the seasonal adjustment mechanism into an SVR model. ► Employing chaotic sequence to improve the premature convergence of genetic algorithm and simulated annealing algorithm. ► Successfully providing significant accurate monthly load demand forecasting.

FORECAST: Regulatory effects cost analysis software annual

International Nuclear Information System (INIS)

Lopez, B.; Sciacca, F.W.

1991-11-01

Over the past several years the NRC has developed a generic cost methodology for the quantification of cost/economic impacts associated with a wide range of new or revised regulatory requirements. This methodology has been developed to aid the NRC in preparing Regulatory Impact Analyses (RIAs). These generic costing methods can be useful in quantifying impacts both to industry and to the NRC. The FORECAST program was developed to facilitate the use of the generic costing methodology. This PC program integrates the major cost considerations that may be required because of a regulatory change. FORECAST automates much of the calculations typically needed in an RIA and thus reduces the time and labor required to perform these analysis. More importantly, its integrated and consistent treatment of the different cost elements should help assure comprehensiveness, uniformity, and accuracy in the preparation of needed cost estimates

An empirical investigation on the forecasting ability of mallows model averaging in a macro economic environment

Science.gov (United States)

Yin, Yip Chee; Hock-Eam, Lim

2012-09-01

This paper investigates the forecasting ability of Mallows Model Averaging (MMA) by conducting an empirical analysis of five Asia countries, Malaysia, Thailand, Philippines, Indonesia and China's GDP growth rate. Results reveal that MMA has no noticeable differences in predictive ability compared to the general autoregressive fractional integrated moving average model (ARFIMA) and its predictive ability is sensitive to the effect of financial crisis. MMA could be an alternative forecasting method for samples without recent outliers such as financial crisis.

Forecasting skills of the ensemble hydro-meteorological system for the Po river floods

Science.gov (United States)

Ricciardi, Giuseppe; Montani, Andrea; Paccagnella, Tiziana; Pecora, Silvano; Tonelli, Fabrizio

2013-04-01

The Po basin is the largest and most economically important river-basin in Italy. Extreme hydrological events, including floods, flash floods and droughts, are expected to become more severe in the next future due to climate change, and related ground effects are linked both with environmental and social resilience. A Warning Operational Center (WOC) for hydrological event management was created in Emilia Romagna region. In the last years, the WOC faced challenges in legislation, organization, technology and economics, achieving improvements in forecasting skill and information dissemination. Since 2005, an operational forecasting and modelling system for flood modelling and forecasting has been implemented, aimed at supporting and coordinating flood control and emergency management on the whole Po basin. This system, referred to as FEWSPo, has also taken care of environmental aspects of flood forecast. The FEWSPo system has reached a very high level of complexity, due to the combination of three different hydrological-hydraulic chains (HEC-HMS/RAS - MIKE11 NAM/HD, Topkapi/Sobek), with several meteorological inputs (forecasted - COSMOI2, COSMOI7, COSMO-LEPS among others - and observed). In this hydrological and meteorological ensemble the management of the relative predictive uncertainties, which have to be established and communicated to decision makers, is a debated scientific and social challenge. Real time activities face professional, modelling and technological aspects but are also strongly interrelated with organization and human aspects. The authors will report a case study using the operational flood forecast hydro-meteorological ensemble, provided by the MIKE11 chain fed by COSMO_LEPS EQPF. The basic aim of the proposed approach is to analyse limits and opportunities of the long term forecast (with a lead time ranging from 3 to 5 days), for the implementation of low cost actions, also looking for a well informed decision making and the improvement of

Advanced nuclear plants: Meeting the economic challenge

International Nuclear Information System (INIS)

Redding, J.R.; MacGregor, P.R.

1993-01-01

This article examines the economic challenges to nuclear power meeting the forecasted power demand of the end of the century. The topics of the article include the economic challenge, safety, competition from other energy sources, a US case study, environmental costs, capital costs, reducing operation and maintenance costs, and non-technical features

SINGULAR SPECTRUM ANALYSIS: METHODOLOGY AND APPLICATION TO ECONOMICS DATA

Institute of Scientific and Technical Information of China (English)

Hossein HASSANI; Anatoly ZHIGLJAVSKY

2009-01-01

This paper describes the methodology of singular spectrum analysis (SSA) and demonstrate that it is a powerful method of time series analysis and forecasting, particulary for economic time series. The authors consider the application of SSA to the analysis and forecasting of the Iranian national accounts data as provided by the Central Bank of the Islamic Republic of lran.

Combination of Deterministic and Probabilistic Meteorological Models to enhance Wind Farm Power Forecasts

International Nuclear Information System (INIS)

Bremen, Lueder von

2007-01-01

Large-scale wind farms will play an important role in the future worldwide energy supply. However, with increasing wind power penetration all stakeholders on the electricity market will ask for more skilful wind power predictions regarding save grid integration and to increase the economic value of wind power. A Neural Network is used to calculate Model Output Statistics (MOS) for each individual forecast model (ECMWF and HIRLAM) and to model the aggregated power curve of the Middelgrunden offshore wind farm. We showed that the combination of two NWP models clearly outperforms the better single model. The normalized day-ahead RMSE forecast error for Middelgrunden can be reduced by 1% compared to single ECMWF. This is a relative improvement of 6%. For lead times >24h it is worthwhile to use a more sophisticated model combination approach than simple linear weighting. The investigated principle component regression is able to extract the uncorrelated information from two NWP forecasts. The spread of Ensemble Predictions is related to the skill of wind power forecasts. Simple contingency diagrams show that low spread corresponds is more often related to low forecast errors and high spread to large forecast errors

Hour-Ahead Wind Speed and Power Forecasting Using Empirical Mode Decomposition

Directory of Open Access Journals (Sweden)

Ying-Yi Hong

2013-11-01

Full Text Available Operation of wind power generation in a large farm is quite challenging in a smart grid owing to uncertain weather conditions. Consequently, operators must accurately forecast wind speed/power in the dispatch center to carry out unit commitment, real power scheduling and economic dispatch. This work presents a novel method based on the integration of empirical mode decomposition (EMD with artificial neural networks (ANN to forecast the short-term (1 h ahead wind speed/power. First, significant parameters for training the ANN are identified using the correlation coefficients. These significant parameters serve as inputs of the ANN. Owing to the volatile and intermittent wind speed/power, the historical time series of wind speed/power is decomposed into several intrinsic mode functions (IMFs and a residual function through EMD. Each IMF becomes less volatile and therefore increases the accuracy of the neural network. The final forecasting results are achieved by aggregating all individual forecasting results from all IMFs and their corresponding residual functions. Real data related to the wind speed and wind power measured at a wind-turbine generator in Taiwan are used for simulation. The wind speed forecasting and wind power forecasting for the four seasons are studied. Comparative studies between the proposed method and traditional methods (i.e., artificial neural network without EMD, autoregressive integrated moving average (ARIMA, and persistence method are also introduced.

Venezuela's Economic Recovery: Is It Sustainable?

OpenAIRE

Jake Johnston; Mark Weisbrot

2012-01-01

Venezuela’s current growth is generally described as unsustainable, with various negative scenarios put forth, including spiraling debt, inflation, and balance of payments crises. However, these pessimistic forecasts have been far off the mark for most of the past decade. This paper looks at the available economic data to see if Venezuela’s economic recovery could be sustained, or even accelerated. It finds that Venezuela’s current economic growth is sustainable and could continue at the curr...

Wind Power Forecasting Error Frequency Analyses for Operational Power System Studies: Preprint

Energy Technology Data Exchange (ETDEWEB)

Florita, A.; Hodge, B. M.; Milligan, M.

2012-08-01

The examination of wind power forecasting errors is crucial for optimal unit commitment and economic dispatch of power systems with significant wind power penetrations. This scheduling process includes both renewable and nonrenewable generators, and the incorporation of wind power forecasts will become increasingly important as wind fleets constitute a larger portion of generation portfolios. This research considers the Western Wind and Solar Integration Study database of wind power forecasts and numerical actualizations. This database comprises more than 30,000 locations spread over the western United States, with a total wind power capacity of 960 GW. Error analyses for individual sites and for specific balancing areas are performed using the database, quantifying the fit to theoretical distributions through goodness-of-fit metrics. Insights into wind-power forecasting error distributions are established for various levels of temporal and spatial resolution, contrasts made among the frequency distribution alternatives, and recommendations put forth for harnessing the results. Empirical data are used to produce more realistic site-level forecasts than previously employed, such that higher resolution operational studies are possible. This research feeds into a larger work of renewable integration through the links wind power forecasting has with various operational issues, such as stochastic unit commitment and flexible reserve level determination.

Forecasting parameters of a the monuclear power plant with a torsatron reactor

International Nuclear Information System (INIS)

Artyugina, I.M.; Semenov, A.A.; Smirnov, A.N.

1982-01-01

A number of problems related to forecasting technical economical factors of thermonuclear electric plant (TNPP) based on the torsatron reactor is considered. Possible methodic approaches to the estimation of TNPP nonstandard equipment construction-mounting works and the results of forecasting the investment structure in TNPP are analysed. The influence of TP basic systems on the total investment value depending on accepted price level is shown. Quantitative estimations of specific investments and electric energy production cost permit to estimate rather optimistically the considered TNPP type and to draw a conclusion on advisability of the further study

Electrical load forecastes and correlations with economic growth

International Nuclear Information System (INIS)

Buter, J.

1975-01-01

Normally, an increase in productivity, which is commonly considered necessary for maintaining the economic position of an economic area, will result in increased demands for energy. This additional requirement must be taken into account, and this is what the capacities of power-generating facilities have to be adapted to. Thus, capital expenditures are necessary the extent of which will depend upon future development. At this point, prognostication is to help avoid misemployment of funds. Such energy prognostication is definitely needed for a period of time corresponding to the construction period for power-generating installations, hence for some five to ten years. (orig.) [de

Advancing solar energy forecasting through the underlying physics

Science.gov (United States)

Yang, H.; Ghonima, M. S.; Zhong, X.; Ozge, B.; Kurtz, B.; Wu, E.; Mejia, F. A.; Zamora, M.; Wang, G.; Clemesha, R.; Norris, J. R.; Heus, T.; Kleissl, J. P.

2017-12-01

As solar power comprises an increasingly large portion of the energy generation mix, the ability to accurately forecast solar photovoltaic generation becomes increasingly important. Due to the variability of solar power caused by cloud cover, knowledge of both the magnitude and timing of expected solar power production ahead of time facilitates the integration of solar power onto the electric grid by reducing electricity generation from traditional ancillary generators such as gas and oil power plants, as well as decreasing the ramping of all generators, reducing start and shutdown costs, and minimizing solar power curtailment, thereby providing annual economic value. The time scales involved in both the energy markets and solar variability range from intra-hour to several days ahead. This wide range of time horizons led to the development of a multitude of techniques, with each offering unique advantages in specific applications. For example, sky imagery provides site-specific forecasts on the minute-scale. Statistical techniques including machine learning algorithms are commonly used in the intra-day forecast horizon for regional applications, while numerical weather prediction models can provide mesoscale forecasts on both the intra-day and days-ahead time scale. This talk will provide an overview of the challenges unique to each technique and highlight the advances in their ongoing development which come alongside advances in the fundamental physics underneath.

Ethical issues in forecasting of natural hazards

Science.gov (United States)

Tinti, Stefano

2014-05-01

Natural hazards have by definition a large impact on the society and, therefore, since the beginning of science one of the major aspiration of mankind has been the prediction of natural calamities in the attempt to avoid or to mitigate their effects. In modern societies where science and technology have gained a foundational role, forecasts and predictions have become part of the every-day life and may also influence state policies and economic development. And in parallel with the growing importance of forecasting, even ethical problems for forecasters and for forecasters communities have started to appear. In this work two of the many geo-ethical issues are considered mostly: 1) how to cope with uncertainties that are inherently associated with any forecast statement; 2) how to handle predictions in scientific journals and scientific conferences The former issue is mainly related to the impact of predictions on the general public and on managers and operators in the civil protection field. Forecasters operate in specific contexts that 1) may change from country to country, depending on the local adopted best practices, but also, which is more constraining, on the local legal regulations and laws; 2) may change from discipline to discipline according to the development of the specific knowhow and the range of the forecast (from minutes to centuries) The second issue has to do with the communication of the scientific results on predictions and on prediction methods to the audience mainly composed of scientists, and involves one of the basic elements of science. In principle, scientists should use scientific communication means (papers in scientific journals, conferences, …) to illustrate results that are sound and certain, or the methods by means of which they conduct their research. But scientists involved in predictions have inherently to do with uncertainties, and, since there is no common agreement on how to deal with them, there is the risk that scientific

Inflation Forecast Contracts

OpenAIRE

Gersbach, Hans; Hahn, Volker

2012-01-01

We introduce a new type of incentive contract for central bankers: inflation forecast contracts, which make central bankers’ remunerations contingent on the precision of their inflation forecasts. We show that such contracts enable central bankers to influence inflation expectations more effectively, thus facilitating more successful stabilization of current inflation. Inflation forecast contracts improve the accuracy of inflation forecasts, but have adverse consequences for output. On balanc...

BAYESIAN FORECASTS COMBINATION TO IMPROVE THE ROMANIAN INFLATION PREDICTIONS BASED ON ECONOMETRIC MODELS

Directory of Open Access Journals (Sweden)

Mihaela Simionescu

2014-12-01

Full Text Available There are many types of econometric models used in predicting the inflation rate, but in this study we used a Bayesian shrinkage combination approach. This methodology is used in order to improve the predictions accuracy by including information that is not captured by the econometric models. Therefore, experts’ forecasts are utilized as prior information, for Romania these predictions being provided by Institute for Economic Forecasting (Dobrescu macromodel, National Commission for Prognosis and European Commission. The empirical results for Romanian inflation show the superiority of a fixed effects model compared to other types of econometric models like VAR, Bayesian VAR, simultaneous equations model, dynamic model, log-linear model. The Bayesian combinations that used experts’ predictions as priors, when the shrinkage parameter tends to infinite, improved the accuracy of all forecasts based on individual models, outperforming also zero and equal weights predictions and naïve forecasts.

Methods of improvement of forecasting of development of mineral deposits' power supply

Directory of Open Access Journals (Sweden)

Alexander V. Putilov

2015-03-01

Full Text Available Mineral deposits (among which non-ferrous metals take a leading place are situated on the territory of our planet rather unevenly, and often in out-of-the-way places. Nuclear power (particularly, transportable nuclear power plants provides the new possibilities of power supply, which is very important for deposits' development. This article shares the economic aspects of forecasting in the field of power development (in particular, nuclear power on the basis of transportable nuclear power plants. Economic barriers of development of innovative nuclear technologies are considered on the example of transportable nuclear power plants. At the same time, there are given the ways of elimination of such barrier to development of this technology as methodical absence of investigation of a question of distribution of added cost between producers of innovative equipment and final product. Addition of new analytical tool (“business diagonal” is offered for a method of definition of economically efficient distribution of added cost (received as a result of introduction of innovative technologies between participants of production and consumption of atomic energy within the “economic cross” model. There is offered the order of use of method of cash flows discounting at calculations between nuclear market participants. Economic methods, offered in this article, may be used in forecasting of development of other energy technologies and introduction of prospective energy equipment.

Drought forecasting in Luanhe River basin involving climatic indices

Science.gov (United States)

Ren, Weinan; Wang, Yixuan; Li, Jianzhu; Feng, Ping; Smith, Ronald J.

2017-11-01

Drought is regarded as one of the most severe natural disasters globally. This is especially the case in Tianjin City, Northern China, where drought can affect economic development and people's livelihoods. Drought forecasting, the basis of drought management, is an important mitigation strategy. In this paper, we evolve a probabilistic forecasting model, which forecasts transition probabilities from a current Standardized Precipitation Index (SPI) value to a future SPI class, based on conditional distribution of multivariate normal distribution to involve two large-scale climatic indices at the same time, and apply the forecasting model to 26 rain gauges in the Luanhe River basin in North China. The establishment of the model and the derivation of the SPI are based on the hypothesis of aggregated monthly precipitation that is normally distributed. Pearson correlation and Shapiro-Wilk normality tests are used to select appropriate SPI time scale and large-scale climatic indices. Findings indicated that longer-term aggregated monthly precipitation, in general, was more likely to be considered normally distributed and forecasting models should be applied to each gauge, respectively, rather than to the whole basin. Taking Liying Gauge as an example, we illustrate the impact of the SPI time scale and lead time on transition probabilities. Then, the controlled climatic indices of every gauge are selected by Pearson correlation test and the multivariate normality of SPI, corresponding climatic indices for current month and SPI 1, 2, and 3 months later are demonstrated using Shapiro-Wilk normality test. Subsequently, we illustrate the impact of large-scale oceanic-atmospheric circulation patterns on transition probabilities. Finally, we use a score method to evaluate and compare the performance of the three forecasting models and compare them with two traditional models which forecast transition probabilities from a current to a future SPI class. The results show that the

The role of central bank transparency for guiding private sector forecasts

NARCIS (Netherlands)

Eijffinger, S.C.W.; Ehrmann, M.; Fratzscher, M.

2012-01-01

Central banks have become remarkably more transparent over the last few decades. In this paper, we study the effects of this evolution, focusing on whether enhanced central bank transparency lowers dispersion among professional forecasters of key economic variables. We use a large set of proxies for

Evaluation of trade influence on economic growth rate by computational intelligence approach

Science.gov (United States)

Sokolov-Mladenović, Svetlana; Milovančević, Milos; Mladenović, Igor

2017-01-01

In this study was analyzed the influence of trade parameters on the economic growth forecasting accuracy. Computational intelligence method was used for the analyzing since the method can handle highly nonlinear data. It is known that the economic growth could be modeled based on the different trade parameters. In this study five input parameters were considered. These input parameters were: trade in services, exports of goods and services, imports of goods and services, trade and merchandise trade. All these parameters were calculated as added percentages in gross domestic product (GDP). The main goal was to select which parameters are the most impactful on the economic growth percentage. GDP was used as economic growth indicator. Results show that the imports of goods and services has the highest influence on the economic growth forecasting accuracy.

Impact of Economic Conditions and Crises on Mortality and its Predictability.

Science.gov (United States)

Bohk, Christina; Rau, Roland

To investigate how economic conditions and crises affect mortality and its predictability in industrialized countries, we review the related literature, and we forecast mortality developments in Spain, Hungary, and Russia-three countries which have recently undergone major transformation processes following the introduction of radical economic and political reforms. The results of our retrospective mortality forecasts from 1991 to 2009 suggest that our model can capture major changes in long-term mortality trends, and that the forecast errors it generates are usually smaller than those of other well-accepted models, like the Lee-Carter model and its coherent variant. This is because our approach is capable of modeling (1) dynamic shifts in survival improvements from younger to older ages over time, as well as (2) substantial changes in long-term trends by optionally complementing the extrapolated mortality trends in a country of interest with those of selected reference countries. However, the forecasting performance of our model is limited (like that of every model): e.g., if mortality becomes extremely volatile-as was the case in Russia after the dissolution of the Soviet Union-generating a precise forecast will depend more on luck than on methodology and expert judgment. In general, we conclude that, on their own, recent economic changes appear to have minor effects on life expectancy in industrialized countries, but that the effects of these changes are greater if they occur in conjunction with other major social and political changes.

A Novel Nonlinear Combined Forecasting System for Short-Term Load Forecasting

Directory of Open Access Journals (Sweden)

Chengshi Tian

2018-03-01

Full Text Available Short-term load forecasting plays an indispensable role in electric power systems, which is not only an extremely challenging task but also a concerning issue for all society due to complex nonlinearity characteristics. However, most previous combined forecasting models were based on optimizing weight coefficients to develop a linear combined forecasting model, while ignoring that the linear combined model only considers the contribution of the linear terms to improving the model’s performance, which will lead to poor forecasting results because of the significance of the neglected and potential nonlinear terms. In this paper, a novel nonlinear combined forecasting system, which consists of three modules (improved data pre-processing module, forecasting module and the evaluation module is developed for short-term load forecasting. Different from the simple data pre-processing of most previous studies, the improved data pre-processing module based on longitudinal data selection is successfully developed in this system, which further improves the effectiveness of data pre-processing and then enhances the final forecasting performance. Furthermore, the modified support vector machine is developed to integrate all the individual predictors and obtain the final prediction, which successfully overcomes the upper drawbacks of the linear combined model. Moreover, the evaluation module is incorporated to perform a scientific evaluation for the developed system. The half-hourly electrical load data from New South Wales are employed to verify the effectiveness of the developed forecasting system, and the results reveal that the developed nonlinear forecasting system can be employed in the dispatching and planning for smart grids.

Linking seasonal climate forecasts with crop models in Iberian Peninsula

Science.gov (United States)

Capa, Mirian; Ines, Amor; Baethgen, Walter; Rodriguez-Fonseca, Belen; Han, Eunjin; Ruiz-Ramos, Margarita

2015-04-01

Translating seasonal climate forecasts into agricultural production forecasts could help to establish early warning systems and to design crop management adaptation strategies that take advantage of favorable conditions or reduce the effect of adverse conditions. In this study, we use seasonal rainfall forecasts and crop models to improve predictability of wheat yield in the Iberian Peninsula (IP). Additionally, we estimate economic margins and production risks associated with extreme scenarios of seasonal rainfall forecast. This study evaluates two methods for disaggregating seasonal climate forecasts into daily weather data: 1) a stochastic weather generator (CondWG), and 2) a forecast tercile resampler (FResampler). Both methods were used to generate 100 (with FResampler) and 110 (with CondWG) weather series/sequences for three scenarios of seasonal rainfall forecasts. Simulated wheat yield is computed with the crop model CERES-wheat (Ritchie and Otter, 1985), which is included in Decision Support System for Agrotechnology Transfer (DSSAT v.4.5, Hoogenboom et al., 2010). Simulations were run at two locations in northeastern Spain where the crop model was calibrated and validated with independent field data. Once simulated yields were obtained, an assessment of farmer's gross margin for different seasonal climate forecasts was accomplished to estimate production risks under different climate scenarios. This methodology allows farmers to assess the benefits and risks of a seasonal weather forecast in IP prior to the crop growing season. The results of this study may have important implications on both, public (agricultural planning) and private (decision support to farmers, insurance companies) sectors. Acknowledgements Research by M. Capa-Morocho has been partly supported by a PICATA predoctoral fellowship of the Moncloa Campus of International Excellence (UCM-UPM) and MULCLIVAR project (CGL2012-38923-C02-02) References Hoogenboom, G. et al., 2010. The Decision

Seasonal forecasting of groundwater levels in natural aquifers in the United Kingdom

Science.gov (United States)

Mackay, Jonathan; Jackson, Christopher; Pachocka, Magdalena; Brookshaw, Anca; Scaife, Adam

2014-05-01

Groundwater aquifers comprise the world's largest freshwater resource and provide resilience to climate extremes which could become more frequent under future climate changes. Prolonged dry conditions can induce groundwater drought, often characterised by significantly low groundwater levels which may persist for months to years. In contrast, lasting wet conditions can result in anomalously high groundwater levels which result in flooding, potentially at large economic cost. Using computational models to produce groundwater level forecasts allows appropriate management strategies to be considered in advance of extreme events. The majority of groundwater level forecasting studies to date use data-based models, which exploit the long response time of groundwater levels to meteorological drivers and make forecasts based only on the current state of the system. Instead, seasonal meteorological forecasts can be used to drive hydrological models and simulate groundwater levels months into the future. Such approaches have not been used in the past due to a lack of skill in these long-range forecast products. However systems such as the latest version of the Met Office Global Seasonal Forecast System (GloSea5) are now showing increased skill up to a 3-month lead time. We demonstrate the first groundwater level ensemble forecasting system using a multi-member ensemble of hindcasts from GloSea5 between 1996 and 2009 to force 21 simple lumped conceptual groundwater models covering most of the UK's major aquifers. We present the results from this hindcasting study and demonstrate that the system can be used to forecast groundwater levels with some skill up to three months into the future.

Modeling the impact of forecast-based regime switches on macroeconomic time series

NARCIS (Netherlands)

K. Bel (Koen); R. Paap (Richard)

2013-01-01

textabstractForecasts of key macroeconomic variables may lead to policy changes of governments, central banks and other economic agents. Policy changes in turn lead to structural changes in macroeconomic time series models. To describe this phenomenon we introduce a logistic smooth transition

Energy reference forecast for 2014

International Nuclear Information System (INIS)

Schlesinger, Michael; Lutz, Christian

2014-01-01

The German Federal Ministry for Economic Affairs and Energy has commissioned three reputed institutions to prepare an energy reference forecast as well as a target scenario up to the year 2050. The results of this survey evidence a substantial need for political action if the goals of the Federal Government's energy concept are to be achieved as planned. In view of the wide range of interests among the players involved as well as the complexity of the demands facing the political leadership from diverse areas of life it appears unlikely that the targets laid down in the energy concept can be realised.

Olympic games in Sochi, comparison and forecast

OpenAIRE

Kudrina, Anastasia

2015-01-01

Title: Olympic Games in Sochi, comparison and prediction Goals: Based on a research of the Olympic Games in Sochi to create a forecast of future economic effects on the territorium Method: The prediction is based on the analogic situation in other countries that held the Olympic Games in the past. Induction method of representing the thought process, during which the individual facts formulate more general assertions and theories; deduction method, which are derived from the general conclusio...

Forecasting carbon dioxide emissions based on a hybrid of mixed data sampling regression model and back propagation neural network in the USA.

Science.gov (United States)

Zhao, Xin; Han, Meng; Ding, Lili; Calin, Adrian Cantemir

2018-01-01

The accurate forecast of carbon dioxide emissions is critical for policy makers to take proper measures to establish a low carbon society. This paper discusses a hybrid of the mixed data sampling (MIDAS) regression model and BP (back propagation) neural network (MIDAS-BP model) to forecast carbon dioxide emissions. Such analysis uses mixed frequency data to study the effects of quarterly economic growth on annual carbon dioxide emissions. The forecasting ability of MIDAS-BP is remarkably better than MIDAS, ordinary least square (OLS), polynomial distributed lags (PDL), autoregressive distributed lags (ADL), and auto-regressive moving average (ARMA) models. The MIDAS-BP model is suitable for forecasting carbon dioxide emissions for both the short and longer term. This research is expected to influence the methodology for forecasting carbon dioxide emissions by improving the forecast accuracy. Empirical results show that economic growth has both negative and positive effects on carbon dioxide emissions that last 15 quarters. Carbon dioxide emissions are also affected by their own change within 3 years. Therefore, there is a need for policy makers to explore an alternative way to develop the economy, especially applying new energy policies to establish a low carbon society.

Model of analyzing and forecasting the dynamics of industrial production and space sector of the Russian Federation

Directory of Open Access Journals (Sweden)

Dmitriy Yu. Ivanov

2016-01-01

Full Text Available Objective to carry out a comparative analysis of the dynamics of industrial production and the rocket and space industry of Russia. Methods an asynchronous method of harmonic analysis comparative method. Results the forecasts of the development of rocket and space industry for 2015 and 2016 are obtained which are compared with the data of the Ministry of Economic Development and the World Bank of Development. The comparison of the results showed that the analysis and forecast data of the Ministry of Economic Development and the World Bank of Development coincide only partially. The tendency to increase the volumes in rocket and space industry is shown. Scientific novelty the mathematical models are presented for the dynamics of industrial production and the rocket and space industry of the Russian Federation built on the basis of the asynchronous harmonic analysis. The retrospective of the rocketspace complex development is considered. Practical significance using the proposed mathematical models of the dynamics of industrial production and the rocket and space industry of the Russian Federation based on the economy cycles the more accurate forecasts of economic development can be made. nbsp

Magnetogram Forecast: An All-Clear Space Weather Forecasting System

Science.gov (United States)

Barghouty, Nasser; Falconer, David

2015-01-01

Solar flares and coronal mass ejections (CMEs) are the drivers of severe space weather. Forecasting the probability of their occurrence is critical in improving space weather forecasts. The National Oceanic and Atmospheric Administration (NOAA) currently uses the McIntosh active region category system, in which each active region on the disk is assigned to one of 60 categories, and uses the historical flare rates of that category to make an initial forecast that can then be adjusted by the NOAA forecaster. Flares and CMEs are caused by the sudden release of energy from the coronal magnetic field by magnetic reconnection. It is believed that the rate of flare and CME occurrence in an active region is correlated with the free energy of an active region. While the free energy cannot be measured directly with present observations, proxies of the free energy can instead be used to characterize the relative free energy of an active region. The Magnetogram Forecast (MAG4) (output is available at the Community Coordinated Modeling Center) was conceived and designed to be a databased, all-clear forecasting system to support the operational goals of NASA's Space Radiation Analysis Group. The MAG4 system automatically downloads nearreal- time line-of-sight Helioseismic and Magnetic Imager (HMI) magnetograms on the Solar Dynamics Observatory (SDO) satellite, identifies active regions on the solar disk, measures a free-energy proxy, and then applies forecasting curves to convert the free-energy proxy into predicted event rates for X-class flares, M- and X-class flares, CMEs, fast CMEs, and solar energetic particle events (SPEs). The forecast curves themselves are derived from a sample of 40,000 magnetograms from 1,300 active region samples, observed by the Solar and Heliospheric Observatory Michelson Doppler Imager. Figure 1 is an example of MAG4 visual output

Medium Range Forecasts Representation (and Long Range Forecasts?)

Science.gov (United States)

Vincendon, J.-C.

2009-09-01

The progress of the numerical forecasts urges us to interest us in more and more distant ranges. We thus supply more and more forecasts with term of some days. Nevertheless, precautions of use are necessary to give the most reliable and the most relevant possible information. Available in a TV bulletin or on quite other support (Internet, mobile phone), the interpretation and the representation of a medium range forecast (5 - 15 days) must be different from those of a short range forecast. Indeed, the "foresee-ability” of a meteorological phenomenon decreases gradually in the course of the ranges, it decreases all the more quickly that the phenomenon is of small scale. So, at the end of some days, the probability character of a forecast becomes very widely dominating. That is why in Meteo-France the forecasts of D+4 to D+7 are accompanied with a confidence index since around ten years. It is a figure between 1 and 5: the more we approach 5, the more the confidence in the supplied forecast is good. In the practice, an indication is supplied for period D+4 / D+5, the other one for period D+6 / D+7, every day being able to benefit from a different forecast, that is be represented in a independent way. We thus supply a global tendency over 24 hours with less and less precise symbols as the range goes away. Concrete examples will be presented. From now on two years, we also publish forecasts to D+8 / J+9, accompanied with a sign of confidence (" good reliability " or " to confirm "). These two days are grouped together on a single map because for us, the described tendency to this term is relevant on a duration about 48 hours with a spatial scale slightly superior to the synoptic scale. So, we avoid producing more than two zones of types of weather over France and we content with giving an evolution for the temperatures (still, in increase or in decline). Newspapers began to publish this information, it should soon be the case of televisions. It is particularly

Analysis of forecasting and inventory control of raw material supplies in PT INDAC INT’L

Science.gov (United States)

Lesmana, E.; Subartini, B.; Riaman; Jabar, D. A.

2018-03-01

This study discusses the data forecasting sales of carbon electrodes at PT. INDAC INT L uses winters and double moving average methods, while for predicting the amount of inventory and cost required in ordering raw material of carbon electrode next period using Economic Order Quantity (EOQ) model. The result of error analysis shows that winters method for next period gives result of MAE, MSE, and MAPE, the winters method is a better forecasting method for forecasting sales of carbon electrode products. So that PT. INDAC INT L is advised to provide products that will be sold following the sales amount by the winters method.

Projecting county pulpwood production with historical production and macro-economic variables

Science.gov (United States)

Consuelo Brandeis; Dayton M. Lambert

2014-01-01

We explored forecasting of county roundwood pulpwood produc-tion with county-vector autoregressive (CVAR) and spatial panelvector autoregressive (SPVAR) methods. The analysis used timberproducts output data for the state of Florida, together with a set ofmacro-economic variables. Overall, we found the SPVAR specifica-tion produced forecasts with lower error rates...

A Hybrid Method Based on Singular Spectrum Analysis, Firefly Algorithm, and BP Neural Network for Short-Term Wind Speed Forecasting

Directory of Open Access Journals (Sweden)

Yuyang Gao

2016-09-01

Full Text Available With increasing importance being attached to big data mining, analysis, and forecasting in the field of wind energy, how to select an optimization model to improve the forecasting accuracy of the wind speed time series is not only an extremely challenging problem, but also a problem of concern for economic forecasting. The artificial intelligence model is widely used in forecasting and data processing, but the individual back-propagation artificial neural network cannot always satisfy the time series forecasting needs. Thus, a hybrid forecasting approach has been proposed in this study, which consists of data preprocessing, parameter optimization and a neural network for advancing the accuracy of short-term wind speed forecasting. According to the case study, in which the data are collected from Peng Lai, a city located in China, the simulation results indicate that the hybrid forecasting method yields better predictions compared to the individual BP, which indicates that the hybrid method exhibits stronger forecasting ability.

Energy demand evolution in Romania between 1995 - 2020 in accordance with the socio-economic adjustment

International Nuclear Information System (INIS)

Popescu, A.; Popovici, D.; Popescu, M.; Valcereanu, Gh.; Oprea, G.; Velcescu, O.

1996-01-01

Economic and social development of Romania can not be achieved without an increasing energy consumption (in fuels, electricity and thermal energy). The energy supply assessment requires the knowledge of economic, technological, demographic and social development forecasting in accordance with the political transformations in Romania. This paper presents energy demand forecast in accordance with different scenarios of the country's macro-economical development. The future evolution of energy demand is emphasized considering the energy efficiency improvement and the energy conservation policies.(author). 6 figs., 2 tabs., 4 refs

The strategy of professional forecasting

DEFF Research Database (Denmark)

Ottaviani, Marco; Sørensen, Peter Norman

2006-01-01

We develop and compare two theories of professional forecasters’ strategic behavior. The first theory, reputational cheap talk, posits that forecasters endeavor to convince the market that they are well informed. The market evaluates their forecasting talent on the basis of the forecasts...... and the realized state. If the market expects forecasters to report their posterior expectations honestly, then forecasts are shaded toward the prior mean. With correct market expectations, equilibrium forecasts are imprecise but not shaded. The second theory posits that forecasters compete in a forecasting...... contest with pre-specified rules. In a winner-take-all contest, equilibrium forecasts are excessively differentiated...

Energy demand forecasting in Iranian metal industry using linear and nonlinear models based on evolutionary algorithms

International Nuclear Information System (INIS)

Piltan, Mehdi; Shiri, Hiva; Ghaderi, S.F.

2012-01-01

Highlights: ► Investigating different fitness functions for evolutionary algorithms in energy forecasting. ► Energy forecasting of Iranian metal industry by value added, energy prices, investment and employees. ► Using real-coded instead of binary-coded genetic algorithm decreases energy forecasting error. - Abstract: Developing energy-forecasting models is known as one of the most important steps in long-term planning. In order to achieve sustainable energy supply toward economic development and social welfare, it is required to apply precise forecasting model. Applying artificial intelligent models for estimation complex economic and social functions is growing up considerably in many researches recently. In this paper, energy consumption in industrial sector as one of the critical sectors in the consumption of energy has been investigated. Two linear and three nonlinear functions have been used in order to forecast and analyze energy in the Iranian metal industry, Particle Swarm Optimization (PSO) and Genetic Algorithms (GAs) are applied to attain parameters of the models. The Real-Coded Genetic Algorithm (RCGA) has been developed based on real numbers, which is introduced as a new approach in the field of energy forecasting. In the proposed model, electricity consumption has been considered as a function of different variables such as electricity tariff, manufacturing value added, prevailing fuel prices, the number of employees, the investment in equipment and consumption in the previous years. Mean Square Error (MSE), Root Mean Square Error (RMSE), Mean Absolute Deviation (MAD) and Mean Absolute Percent Error (MAPE) are the four functions which have been used as the fitness function in the evolutionary algorithms. The results show that the logarithmic nonlinear model using PSO algorithm with 1.91 error percentage has the best answer. Furthermore, the prediction of electricity consumption in industrial sector of Turkey and also Turkish industrial sector

Development of a monthly to seasonal forecast framework tailored to inland waterway transport in central Europe

Science.gov (United States)

Meißner, Dennis; Klein, Bastian; Ionita, Monica

2017-12-01

Traditionally, navigation-related forecasts in central Europe cover short- to medium-range lead times linked to the travel times of vessels to pass the main waterway bottlenecks leaving the loading ports. Without doubt, this aspect is still essential for navigational users, but in light of the growing political intention to use the free capacity of the inland waterway transport in Europe, additional lead time supporting strategic decisions is more and more in demand. However, no such predictions offering extended lead times of several weeks up to several months currently exist for considerable parts of the European waterway network. This paper describes the set-up of a monthly to seasonal forecasting system for the German stretches of the international waterways of the Rhine, Danube and Elbe rivers. Two competitive forecast approaches have been implemented: the dynamical set-up forces a hydrological model with post-processed outputs from ECMWF general circulation model System 4, whereas the statistical approach is based on the empirical relationship (teleconnection) of global oceanic, climate and regional hydro-meteorological data with river flows. The performance of both forecast methods is evaluated in relation to the climatological forecast (ensemble of historical streamflow) and the well-known ensemble streamflow prediction approach (ESP, ensemble based on historical meteorology) using common performance indicators (correlation coefficient; mean absolute error, skill score; mean squared error, skill score; and continuous ranked probability, skill score) and an impact-based evaluation quantifying the potential economic gain. The following four key findings result from this study: (1) as former studies for other regions of central Europe indicate, the accuracy and/or skill of the meteorological forcing used has a larger effect than the quality of initial hydrological conditions for relevant stations along the German waterways. (2) Despite the predictive

Demand Forecast at the Foodstuff Retail Segment: a Strategic Sustainability Tool at a Small-Sized Brazilian Company

Directory of Open Access Journals (Sweden)

Claudimar Pereira Da Veiga

2013-12-01

Full Text Available Demand forecasting plays an increasingly relevant role within competitive and globalized marketplaces, in as much as operations planning and subsequent transition into a sustainable chain of supplies, is concerned. To this effect, the purpose of this study is to present the application of demand forecasting as a strategic sustainability tool at a Brazilian SME. Therefore, this is a descriptive, ex-post facto and cross-cut, sectional time case study, which employs qualitative and historical quantitative and direct observational data and that utilizes, as both indicators of the level of service offered to consumers and of opportunity costs the artificial neural networks model and fill-rates, for demand forecasting and response purposes. The study further established cause-effect relationships between prediction accuracy, demand responsiveness and process-resulting economic, environmental and social performances. Findings additionally concurred with both widely acknowledged sustainability concepts - NRBV (Natural-Resource-Based View and 3BL (Triple Bottom Line - by demonstrating that demand forecasts ensure the efficient use of resources, improvements in customer responsiveness and also mitigate supply chain stock out and overstock losses. Further to the mentioned economic benefit, demand forecasting additionally reduced the amount of waste that arises from retail product shelf-life expiration, improving the addressing of demand itself and of customer satisfaction, thus driving consequent environmental and social gains.

Hybrid model for forecasting time series with trend, seasonal and salendar variation patterns

Science.gov (United States)

Suhartono; Rahayu, S. P.; Prastyo, D. D.; Wijayanti, D. G. P.; Juliyanto

2017-09-01

Most of the monthly time series data in economics and business in Indonesia and other Moslem countries not only contain trend and seasonal, but also affected by two types of calendar variation effects, i.e. the effect of the number of working days or trading and holiday effects. The purpose of this research is to develop a hybrid model or a combination of several forecasting models to predict time series that contain trend, seasonal and calendar variation patterns. This hybrid model is a combination of classical models (namely time series regression and ARIMA model) and/or modern methods (artificial intelligence method, i.e. Artificial Neural Networks). A simulation study was used to show that the proposed procedure for building the hybrid model could work well for forecasting time series with trend, seasonal and calendar variation patterns. Furthermore, the proposed hybrid model is applied for forecasting real data, i.e. monthly data about inflow and outflow of currency at Bank Indonesia. The results show that the hybrid model tend to provide more accurate forecasts than individual forecasting models. Moreover, this result is also in line with the third results of the M3 competition, i.e. the hybrid model on average provides a more accurate forecast than the individual model.

The transport forecast - an important stage of transport management

Science.gov (United States)

Dragu, Vasile; Dinu, Oana; Oprea, Cristina; Alina Roman, Eugenia

2017-10-01

The transport system is a powerful system with varying loads in operation coming from changes in freight and passenger traffic in different time periods. The variations are due to the specific conditions of organization and development of socio-economic activities. The causes of varying loads can be included in three groups: economic, technical and organizational. The assessing of transport demand variability leads to proper forecast and development of the transport system, knowing that the market price is determined on equilibrium between supply and demand. The reduction of transport demand variability through different technical solutions, organizational, administrative, legislative leads to an increase in the efficiency and effectiveness of transport. The paper presents a new way of assessing the future needs of transport through dynamic series. Both researchers and practitioners in transport planning can benefit from the research results. This paper aims to analyze in an original approach how a good transport forecast can lead to a better management in transport, with significant effects on transport demand full meeting in quality terms. The case study shows how dynamic series of statistics can be used to identify the size of future demand addressed to the transport system.

Housing price forecastability: A factor analysis

DEFF Research Database (Denmark)

Møller, Stig Vinther; Bork, Lasse

2017-01-01

We examine U.S. housing price forecastability using principal component analysis (PCA), partial least squares (PLS), and sparse PLS (SPLS). We incorporate information from a large panel of 128 economic time series and show that macroeconomic fundamentals have strong predictive power for future...... movements in housing prices. We find that (S)PLS models systematically dominate PCA models. (S)PLS models also generate significant out-of-sample predictive power over and above the predictive power contained by the price-rent ratio, autoregressive benchmarks, and regression models based on small datasets....

CORRELATION BETWEEN ECONOMIC GROWTH AND UNEMPLOYMENT

Directory of Open Access Journals (Sweden)

Savu Mihaela

2013-06-01

Full Text Available The mankind progress is built on economic growth.Yet, the high rates of economic growth must be properly used and correlated with other macroeconomic indicators in order to get the aimed effects.At the Romanian economic level, there is an inverse ratio connection between the gross domestic product and the unemployed number, a connection of low intensity.The correlation of these two indicators was established using parametric and nonparametric methods of analyzing the statistic connection using the informatic soft. Setting the recession function allows us to calculate the unemployed number depending on the forecasting of the economic growth in Romania.

Forecasting Construction Tender Price Index in Ghana using Autoregressive Integrated Moving Average with Exogenous Variables Model

Directory of Open Access Journals (Sweden)

Ernest Kissi

2018-03-01

Full Text Available Prices of construction resources keep on fluctuating due to unstable economic situations that have been experienced over the years. Clients knowledge of their financial commitments toward their intended project remains the basis for their final decision. The use of construction tender price index provides a realistic estimate at the early stage of the project. Tender price index (TPI is influenced by various economic factors, hence there are several statistical techniques that have been employed in forecasting. Some of these include regression, time series, vector error correction among others. However, in recent times the integrated modelling approach is gaining popularity due to its ability to give powerful predictive accuracy. Thus, in line with this assumption, the aim of this study is to apply autoregressive integrated moving average with exogenous variables (ARIMAX in modelling TPI. The results showed that ARIMAX model has a better predictive ability than the use of the single approach. The study further confirms the earlier position of previous research of the need to use the integrated model technique in forecasting TPI. This model will assist practitioners to forecast the future values of tender price index. Although the study focuses on the Ghanaian economy, the findings can be broadly applicable to other developing countries which share similar economic characteristics.

Load forecasting

International Nuclear Information System (INIS)

Mak, H.

1995-01-01

Slides used in a presentation at The Power of Change Conference in Vancouver, BC in April 1995 about the changing needs for load forecasting were presented. Technological innovations and population increase were said to be the prime driving forces behind the changing needs in load forecasting. Structural changes, market place changes, electricity supply planning changes, and changes in planning objectives were other factors discussed. It was concluded that load forecasting was a form of information gathering, that provided important market intelligence

Relating Tropical Cyclone Track Forecast Error Distributions with Measurements of Forecast Uncertainty

Science.gov (United States)

2016-03-01

CYCLONE TRACK FORECAST ERROR DISTRIBUTIONS WITH MEASUREMENTS OF FORECAST UNCERTAINTY by Nicholas M. Chisler March 2016 Thesis Advisor...March 2016 3. REPORT TYPE AND DATES COVERED Master’s thesis 4. TITLE AND SUBTITLE RELATING TROPICAL CYCLONE TRACK FORECAST ERROR DISTRIBUTIONS...WITH MEASUREMENTS OF FORECAST UNCERTAINTY 5. FUNDING NUMBERS 6. AUTHOR(S) Nicholas M. Chisler 7. PERFORMING ORGANIZATION NAME(S) AND ADDRESS(ES

Analysis and forecast of employees’ mobility on the labor market in Romania using Markov chains

Directory of Open Access Journals (Sweden)

Mariana Balan

2013-06-01

Full Text Available The mobility of labor, defined as responsiveness and adaptation of persons or groups of persons on the challenges of the social and economic environment is therefore a social phenomenon depending on time and space. A high mobility increases opportunities for workers to find a job and employers to find persons with an adequate level of skills, thus boosting employment and economic growth. In recent years, in Romania there has been an accentuation of existing gaps, compared with the European Union countries, as regards the occupational structure of employment. In this context, the paper proposes an analysis of the evolution of labor mobility in the main sectors of the Romanian economy. Also, it was pursued the Markovian modeling of employees’ mobility on the labor market and its forecast in Romania, under the impact of rapid and profound social and economic changes, and the correlation between them as well, with a view to make forecasts of the Romanian economy evolution in the short term.

A data-driven multi-model methodology with deep feature selection for short-term wind forecasting

International Nuclear Information System (INIS)

Feng, Cong; Cui, Mingjian; Hodge, Bri-Mathias; Zhang, Jie

2017-01-01

Highlights: • An ensemble model is developed to produce both deterministic and probabilistic wind forecasts. • A deep feature selection framework is developed to optimally determine the inputs to the forecasting methodology. • The developed ensemble methodology has improved the forecasting accuracy by up to 30%. - Abstract: With the growing wind penetration into the power system worldwide, improving wind power forecasting accuracy is becoming increasingly important to ensure continued economic and reliable power system operations. In this paper, a data-driven multi-model wind forecasting methodology is developed with a two-layer ensemble machine learning technique. The first layer is composed of multiple machine learning models that generate individual forecasts. A deep feature selection framework is developed to determine the most suitable inputs to the first layer machine learning models. Then, a blending algorithm is applied in the second layer to create an ensemble of the forecasts produced by first layer models and generate both deterministic and probabilistic forecasts. This two-layer model seeks to utilize the statistically different characteristics of each machine learning algorithm. A number of machine learning algorithms are selected and compared in both layers. This developed multi-model wind forecasting methodology is compared to several benchmarks. The effectiveness of the proposed methodology is evaluated to provide 1-hour-ahead wind speed forecasting at seven locations of the Surface Radiation network. Numerical results show that comparing to the single-algorithm models, the developed multi-model framework with deep feature selection procedure has improved the forecasting accuracy by up to 30%.

Short term load forecasting of anomalous load using hybrid soft computing methods

Science.gov (United States)

Rasyid, S. A.; Abdullah, A. G.; Mulyadi, Y.

2016-04-01

Load forecast accuracy will have an impact on the generation cost is more economical. The use of electrical energy by consumers on holiday, show the tendency of the load patterns are not identical, it is different from the pattern of the load on a normal day. It is then defined as a anomalous load. In this paper, the method of hybrid ANN-Particle Swarm proposed to improve the accuracy of anomalous load forecasting that often occur on holidays. The proposed methodology has been used to forecast the half-hourly electricity demand for power systems in the Indonesia National Electricity Market in West Java region. Experiments were conducted by testing various of learning rate and learning data input. Performance of this methodology will be validated with real data from the national of electricity company. The result of observations show that the proposed formula is very effective to short-term load forecasting in the case of anomalous load. Hybrid ANN-Swarm Particle relatively simple and easy as a analysis tool by engineers.

FORECASTING TOURIST ARRIVALS TO LANGKAWI ISLAND MALAYSIA

OpenAIRE

Kamarul Ariffin MANSOR; Wan Irham ISHAK

2015-01-01

Tourism is the act of travelling for a person or group of people from their own locality to a specific destination in a short term or long term period either for leisure or business purposes. Tourism is an important sector in the Malaysian economy where tourism development will lead to the positive economic development of the country and in general improve the quality of life for all citizens. Therefore, forecasting tourist arrivals with high accuracy becomes important since it may ensure t...

Simulation of electric power conservation strategies: model of economic evaluation

International Nuclear Information System (INIS)

Pinhel, A.C.C.

1992-01-01

A methodology for the economic evaluation model for energy conservation programs to be executed by the National Program of Electric Power Conservation is presented. From data as: forecasting of conserved energy, tariffs, energy costs and budget, the model calculates the economic indexes for the programs, allowing the evaluation of economic impacts in the electric sector. (C.G.C.)

Grey Forecast Rainfall with Flow Updating Algorithm for Real-Time Flood Forecasting

Directory of Open Access Journals (Sweden)

Jui-Yi Ho

2015-04-01

Full Text Available The dynamic relationship between watershed characteristics and rainfall-runoff has been widely studied in recent decades. Since watershed rainfall-runoff is a non-stationary process, most deterministic flood forecasting approaches are ineffective without the assistance of adaptive algorithms. The purpose of this paper is to propose an effective flow forecasting system that integrates a rainfall forecasting model, watershed runoff model, and real-time updating algorithm. This study adopted a grey rainfall forecasting technique, based on existing hourly rainfall data. A geomorphology-based runoff model can be used for simulating impacts of the changing geo-climatic conditions on the hydrologic response of unsteady and non-linear watershed system, and flow updating algorithm were combined to estimate watershed runoff according to measured flow data. The proposed flood forecasting system was applied to three watersheds; one in the United States and two in Northern Taiwan. Four sets of rainfall-runoff simulations were performed to test the accuracy of the proposed flow forecasting technique. The results indicated that the forecast and observed hydrographs are in good agreement for all three watersheds. The proposed flow forecasting system could assist authorities in minimizing loss of life and property during flood events.

Forecasting Business Investment Using the Capital Expenditure Survey

OpenAIRE

Natasha Cassidy; Emma Doherty; Troy Gill

2012-01-01

Business investment is a key driver of economic growth and is currently around record highs in Australia as a share of GDP. In compiling forecasts for business investment, the Reserve Bank uses a variety of different indicators, including information from liaison as well as survey measures of firms’ investment intentions. The most comprehensive survey is the Australian Bureau of Statistics’ (ABS) quarterly survey of Private New Capital Expenditure and Expected Expenditure (Capex survey). Whil...

FORECASTING TOURIST ARRIVALS TO LANGKAWI ISLAND MALAYSIA

Directory of Open Access Journals (Sweden)

Kamarul Ariffin MANSOR

2015-06-01

Full Text Available Tourism is the act of travelling for a person or group of people from their own locality to a specific destination in a short term or long term period either for leisure or business purposes. Tourism is an important sector in the Malaysian economy where tourism development will lead to the positive economic development of the country and in general improve the quality of life for all citizens. Therefore, forecasting tourist arrivals with high accuracy becomes important since it may ensure the development and the readiness of all tourism related industries such as hotels, transportation, food and services industries and their best shape. This study focuses on tourist arrivals in Langkawi Island as one of the major tourist attractions situated in the northerly region of Peninsular Malaysia. Importantly, this paper attempts to measure and compare the performance of forecasting with Exponential Smoothing, ARIMA and ARFIMA models using the R software package.

Communicating likelihoods and probabilities in forecasts of volcanic eruptions

Science.gov (United States)

Doyle, Emma E. H.; McClure, John; Johnston, David M.; Paton, Douglas

2014-02-01

The issuing of forecasts and warnings of natural hazard events, such as volcanic eruptions, earthquake aftershock sequences and extreme weather often involves the use of probabilistic terms, particularly when communicated by scientific advisory groups to key decision-makers, who can differ greatly in relative expertise and function in the decision making process. Recipients may also differ in their perception of relative importance of political and economic influences on interpretation. Consequently, the interpretation of these probabilistic terms can vary greatly due to the framing of the statements, and whether verbal or numerical terms are used. We present a review from the psychology literature on how the framing of information influences communication of these probability terms. It is also unclear as to how people rate their perception of an event's likelihood throughout a time frame when a forecast time window is stated. Previous research has identified that, when presented with a 10-year time window forecast, participants viewed the likelihood of an event occurring ‘today’ as being of less than that in year 10. Here we show that this skew in perception also occurs for short-term time windows (under one week) that are of most relevance for emergency warnings. In addition, unlike the long-time window statements, the use of the phrasing “within the next…” instead of “in the next…” does not mitigate this skew, nor do we observe significant differences between the perceived likelihoods of scientists and non-scientists. This finding suggests that effects occurring due to the shorter time window may be ‘masking’ any differences in perception due to wording or career background observed for long-time window forecasts. These results have implications for scientific advice, warning forecasts, emergency management decision-making, and public information as any skew in perceived event likelihood towards the end of a forecast time window may result in

Short-term residential load forecasting: Impact of calendar effects and forecast granularity

DEFF Research Database (Denmark)

Lusis, Peter; Khalilpour, Kaveh Rajab; Andrew, Lachlan

2017-01-01

forecasting for a single-customer or even down at an appliance level. Access to high resolution data from smart meters has enabled the research community to assess conventional load forecasting techniques and develop new forecasting strategies suitable for demand-side disaggregated loads. This paper studies...... how calendar effects, forecasting granularity and the length of the training set affect the accuracy of a day-ahead load forecast for residential customers. Root mean square error (RMSE) and normalized RMSE were used as forecast error metrics. Regression trees, neural networks, and support vector...... regression yielded similar average RMSE results, but statistical analysis showed that regression trees technique is significantly better. The use of historical load profiles with daily and weekly seasonality, combined with weather data, leaves the explicit calendar effects a very low predictive power...

Introduction to time series and forecasting

CERN Document Server

Brockwell, Peter J

2016-01-01

This book is aimed at the reader who wishes to gain a working knowledge of time series and forecasting methods as applied to economics, engineering and the natural and social sciences. It assumes knowledge only of basic calculus, matrix algebra and elementary statistics. This third edition contains detailed instructions for the use of the professional version of the Windows-based computer package ITSM2000, now available as a free download from the Springer Extras website. The logic and tools of time series model-building are developed in detail. Numerous exercises are included and the software can be used to analyze and forecast data sets of the user's own choosing. The book can also be used in conjunction with other time series packages such as those included in R. The programs in ITSM2000 however are menu-driven and can be used with minimal investment of time in the computational details. The core of the book covers stationary processes, ARMA and ARIMA processes, multivariate time series and state-space mod...

Strategic Forecasting

DEFF Research Database (Denmark)

Duus, Henrik Johannsen

2016-01-01

Purpose: The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management decisions. Design/methodology/approach: This article is conceptual but also informed by the author’s long contact...... and collaboration with various business firms. It starts by presenting an overview of the area and argues that the area is as much a way of thinking as a toolbox of theories and methodologies. It then spells out a number of research directions and ideas for management. Findings: Strategic forecasting is seen...... as a rebirth of long range planning, albeit with new methods and theories. Firms should make the building of strategic forecasting capability a priority. Research limitations/implications: The article subdivides strategic forecasting into three research avenues and suggests avenues for further research efforts...

Spatial electric load forecasting

CERN Document Server

Willis, H Lee

2002-01-01

Containing 12 new chapters, this second edition contains offers increased-coverage of weather correction and normalization of forecasts, anticipation of redevelopment, determining the validity of announced developments, and minimizing risk from over- or under-planning. It provides specific examples and detailed explanations of key points to consider for both standard and unusual utility forecasting situations, information on new algorithms and concepts in forecasting, a review of forecasting pitfalls and mistakes, case studies depicting challenging forecast environments, and load models illustrating various types of demand.

Performance of fuzzy approach in Malaysia short-term electricity load forecasting

Science.gov (United States)

Mansor, Rosnalini; Zulkifli, Malina; Yusof, Muhammad Mat; Ismail, Mohd Isfahani; Ismail, Suzilah; Yin, Yip Chee

2014-12-01

Many activities such as economic, education and manafucturing would paralyse with limited supply of electricity but surplus contribute to high operating cost. Therefore electricity load forecasting is important in order to avoid shortage or excess. Previous finding showed festive celebration has effect on short-term electricity load forecasting. Being a multi culture country Malaysia has many major festive celebrations such as Eidul Fitri, Chinese New Year and Deepavali but they are moving holidays due to non-fixed dates on the Gregorian calendar. This study emphasis on the performance of fuzzy approach in forecasting electricity load when considering the presence of moving holidays. Autoregressive Distributed Lag model was estimated using simulated data by including model simplification concept (manual or automatic), day types (weekdays or weekend), public holidays and lags of electricity load. The result indicated that day types, public holidays and several lags of electricity load were significant in the model. Overall, model simplification improves fuzzy performance due to less variables and rules.

Electricity demand forecasting techniques

International Nuclear Information System (INIS)

Gnanalingam, K.

1994-01-01

Electricity demand forecasting plays an important role in power generation. The two areas of data that have to be forecasted in a power system are peak demand which determines the capacity (MW) of the plant required and annual energy demand (GWH). Methods used in electricity demand forecasting include time trend analysis and econometric methods. In forecasting, identification of manpower demand, identification of key planning factors, decision on planning horizon, differentiation between prediction and projection (i.e. development of different scenarios) and choosing from different forecasting techniques are important

Air Pollution Forecasts: An Overview.

Science.gov (United States)

Bai, Lu; Wang, Jianzhou; Ma, Xuejiao; Lu, Haiyan

2018-04-17

Air pollution is defined as a phenomenon harmful to the ecological system and the normal conditions of human existence and development when some substances in the atmosphere exceed a certain concentration. In the face of increasingly serious environmental pollution problems, scholars have conducted a significant quantity of related research, and in those studies, the forecasting of air pollution has been of paramount importance. As a precaution, the air pollution forecast is the basis for taking effective pollution control measures, and accurate forecasting of air pollution has become an important task. Extensive research indicates that the methods of air pollution forecasting can be broadly divided into three classical categories: statistical forecasting methods, artificial intelligence methods, and numerical forecasting methods. More recently, some hybrid models have been proposed, which can improve the forecast accuracy. To provide a clear perspective on air pollution forecasting, this study reviews the theory and application of those forecasting models. In addition, based on a comparison of different forecasting methods, the advantages and disadvantages of some methods of forecasting are also provided. This study aims to provide an overview of air pollution forecasting methods for easy access and reference by researchers, which will be helpful in further studies.

Air Pollution Forecasts: An Overview

Directory of Open Access Journals (Sweden)

Lu Bai

2018-04-01

Full Text Available Air pollution is defined as a phenomenon harmful to the ecological system and the normal conditions of human existence and development when some substances in the atmosphere exceed a certain concentration. In the face of increasingly serious environmental pollution problems, scholars have conducted a significant quantity of related research, and in those studies, the forecasting of air pollution has been of paramount importance. As a precaution, the air pollution forecast is the basis for taking effective pollution control measures, and accurate forecasting of air pollution has become an important task. Extensive research indicates that the methods of air pollution forecasting can be broadly divided into three classical categories: statistical forecasting methods, artificial intelligence methods, and numerical forecasting methods. More recently, some hybrid models have been proposed, which can improve the forecast accuracy. To provide a clear perspective on air pollution forecasting, this study reviews the theory and application of those forecasting models. In addition, based on a comparison of different forecasting methods, the advantages and disadvantages of some methods of forecasting are also provided. This study aims to provide an overview of air pollution forecasting methods for easy access and reference by researchers, which will be helpful in further studies.

Air Pollution Forecasts: An Overview

Science.gov (United States)

Bai, Lu; Wang, Jianzhou; Lu, Haiyan

2018-01-01

Air pollution is defined as a phenomenon harmful to the ecological system and the normal conditions of human existence and development when some substances in the atmosphere exceed a certain concentration. In the face of increasingly serious environmental pollution problems, scholars have conducted a significant quantity of related research, and in those studies, the forecasting of air pollution has been of paramount importance. As a precaution, the air pollution forecast is the basis for taking effective pollution control measures, and accurate forecasting of air pollution has become an important task. Extensive research indicates that the methods of air pollution forecasting can be broadly divided into three classical categories: statistical forecasting methods, artificial intelligence methods, and numerical forecasting methods. More recently, some hybrid models have been proposed, which can improve the forecast accuracy. To provide a clear perspective on air pollution forecasting, this study reviews the theory and application of those forecasting models. In addition, based on a comparison of different forecasting methods, the advantages and disadvantages of some methods of forecasting are also provided. This study aims to provide an overview of air pollution forecasting methods for easy access and reference by researchers, which will be helpful in further studies. PMID:29673227

Forecasting performance of smooth transition autoregressive (STAR model on travel and leisure stock index

Directory of Open Access Journals (Sweden)

Usman M. Umer

2018-06-01

Full Text Available Travel and leisure recorded a consecutive robust growth and become among the fastest economic sectors in the world. Various forecasting models are proposed by researchers that serve as an early recommendation for investors and policy makers. Numerous studies proposed distinct forecasting models to predict the dynamics of this sector and provide early recommendation for investors and policy makers. In this paper, we compare the performance of smooth transition autoregressive (STAR and linear autoregressive (AR models using monthly returns of Turkey and FTSE travel and leisure index from April 1997 to August 2016. MSCI world index used as a proxy of the overall market. The result shows that nonlinear LSTAR model cannot improve the out-of-sample forecast of linear AR model. This finding demonstrates little to be gained from using LSTAR model in the prediction of travel and leisure stock index. Keywords: Nonlinear time-series, Out-of-sample forecasting, Smooth transition autoregressive, Travel and leisure

Forecast Accuracy Uncertainty and Momentum

OpenAIRE

Bing Han; Dong Hong; Mitch Warachka

2009-01-01

We demonstrate that stock price momentum and earnings momentum can result from uncertainty surrounding the accuracy of cash flow forecasts. Our model has multiple information sources issuing cash flow forecasts for a stock. The investor combines these forecasts into an aggregate cash flow estimate that has minimal mean-squared forecast error. This aggregate estimate weights each cash flow forecast by the estimated accuracy of its issuer, which is obtained from their past forecast errors. Mome...

Forecasting of the energy consumption; Zamke prognoziranja potrosnje energije

Energy Technology Data Exchange (ETDEWEB)

Hill, Z [Zagreb (Croatia)

1997-12-31

Urged by earlier continuous failures in forecasting the consumption of energy in the world, essentially characterized by megalomania, the author presents his views on causes of such occurrences. Fundamental cause is considered - logic of a circle - insensitive to social and economic effects on the humanity in general and particularly to the energy consumption. Besides, a lethal influence of voluntarism has been specially studied as well. (author). 13 refs.

Global disease monitoring and forecasting with Wikipedia.

Science.gov (United States)

Generous, Nicholas; Fairchild, Geoffrey; Deshpande, Alina; Del Valle, Sara Y; Priedhorsky, Reid

2014-11-01

Infectious disease is a leading threat to public health, economic stability, and other key social structures. Efforts to mitigate these impacts depend on accurate and timely monitoring to measure the risk and progress of disease. Traditional, biologically-focused monitoring techniques are accurate but costly and slow; in response, new techniques based on social internet data, such as social media and search queries, are emerging. These efforts are promising, but important challenges in the areas of scientific peer review, breadth of diseases and countries, and forecasting hamper their operational usefulness. We examine a freely available, open data source for this use: access logs from the online encyclopedia Wikipedia. Using linear models, language as a proxy for location, and a systematic yet simple article selection procedure, we tested 14 location-disease combinations and demonstrate that these data feasibly support an approach that overcomes these challenges. Specifically, our proof-of-concept yields models with r2 up to 0.92, forecasting value up to the 28 days tested, and several pairs of models similar enough to suggest that transferring models from one location to another without re-training is feasible. Based on these preliminary results, we close with a research agenda designed to overcome these challenges and produce a disease monitoring and forecasting system that is significantly more effective, robust, and globally comprehensive than the current state of the art.

Global disease monitoring and forecasting with Wikipedia.

Directory of Open Access Journals (Sweden)

Nicholas Generous

2014-11-01

Full Text Available Infectious disease is a leading threat to public health, economic stability, and other key social structures. Efforts to mitigate these impacts depend on accurate and timely monitoring to measure the risk and progress of disease. Traditional, biologically-focused monitoring techniques are accurate but costly and slow; in response, new techniques based on social internet data, such as social media and search queries, are emerging. These efforts are promising, but important challenges in the areas of scientific peer review, breadth of diseases and countries, and forecasting hamper their operational usefulness. We examine a freely available, open data source for this use: access logs from the online encyclopedia Wikipedia. Using linear models, language as a proxy for location, and a systematic yet simple article selection procedure, we tested 14 location-disease combinations and demonstrate that these data feasibly support an approach that overcomes these challenges. Specifically, our proof-of-concept yields models with r2 up to 0.92, forecasting value up to the 28 days tested, and several pairs of models similar enough to suggest that transferring models from one location to another without re-training is feasible. Based on these preliminary results, we close with a research agenda designed to overcome these challenges and produce a disease monitoring and forecasting system that is significantly more effective, robust, and globally comprehensive than the current state of the art.

klax Terminal Aerodrome Forecast

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National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kprc Terminal Aerodrome Forecast

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National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

katl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmcn Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kogb Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kama Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ptkk Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kiwa Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kavp Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdca Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbwg Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdfw Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kssi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pahn Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksrq Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpvd Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kisp Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kttd Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pmdy Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmgm Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

khib Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pavd Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kfar Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kluk Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kwwr Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klse Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksts Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

koth Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbfl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksgf Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klch Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpkb Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krog Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbjc Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksea Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbwi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kftw Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpuw Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kabq Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksny Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

khio Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klaf Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kfoe Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksmx Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kipt Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktrk Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kwmc Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

katy Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

tjmz Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdet Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcxp Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbur Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krkd Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pawg Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kloz Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcec Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdec Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

paor Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kavl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdrt Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kstl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbfi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

khsv Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pafa Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kekn Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

tncm Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kith Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kgnv Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktoi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kgso Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

nstu Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpbi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kgdv Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcmx Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdls Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

koaj Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krhi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbpk Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

khuf Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kont Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kyng Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcwa Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kflg Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktup Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktop Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kink Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krut Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbli Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kaoo Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klit Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

panc Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktcl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

pgwt Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpsp Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbih Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdnl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kart Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kilm Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpne Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kabi Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ptpn Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kblf Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kosh Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpdt Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kewr Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kiso Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kpga Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

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Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmyl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krbg Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kril Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksus Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

padq Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbil Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

krfd Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdug Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktix Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcod Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kslk Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kgfl Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kguc Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmlu Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kbff Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ksmn Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kdro Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmce Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

ktpa Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kmot Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kcre Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klws Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kotm Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

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Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

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Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

klal Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kelp Terminal Aerodrome Forecast

Data.gov (United States)

National Oceanic and Atmospheric Administration, Department of Commerce — TAF (terminal aerodrome forecast or terminal area forecast) is a format for reporting weather forecast information, particularly as it relates to aviation. TAFs are...

kecg Terminal Aerodrome Forecast

Data.gov (United States)