Fig 1.
Monthly Chilean exchange rate relative to US dollar. Jan 2001–April 2024.
Fig 2.
Chilean exchange rate relative to US dollar and SPF forecasts. April 2012 – April 2024.
Table 1.
RMSPE Comparison between DRW+ and DRW.
Table 2.
RMSPE Comparison: RW+ vs RW.
Table 3.
RMSPE Comparison: RW vs DRW. June 2018 – April 2024.
Table 4.
RMSPE Comparison: RW+ vs DRW+June 2018 – April 2024.
Table 5.
RMSPE Comparison: RW+ vs DRW. June 2018 – April 2024.
Table 6.
Forecast accuracy of survey-based forecasts relative to the DRW+ at several forecasting horizons h (measured in months). April 2012 – April 2024 window.
Table 7.
Forecast accuracy of survey-based forecasts relative to the DRW+ at several forecasting horizons h (measured in months). April 2012 – May 2018 window.
Table 8.
Forecast accuracy of survey-based forecasts relative to the DRW+ at several forecasting horizons h (measured in months). June 2018 – April 2024 window.
Table 9.
Forecast accuracy of survey-based forecasts relative to the RW+ at several forecasting horizons h (measured in months). June 2018 – April 2024 window.
Table 10.
Mean Directional Accuracy of the SPF at several horizons. April 2012 – April 2024.
Table 11.
Mean directional accuracy of the SPF at several horizons. April 2012 – May 2018.
Table 12.
Mean directional accuracy of the SPF at several horizons. June 2018 – April 2024.
Table 13.
Correlation between CLP+ and SPF at several horizons. April 2012 – April 2024 window.
Table 15.
Correlation between CLP+ and SPF at several horizons. June 2018 – April 2024 window.
Table 14.
Correlation between CLP+ and SPF at several horizons. April 2012 – May 2018 window.
Table 16.
Correlation Differences: RW+ vs SPF at several horizons. June 2018 – April 2024 window.
Table 17.
Bias in survey-based forecasts. April 2012 – April 2024 window.
Table 18.
Bias in survey-based forecasts. April 2012 – May 2018 window.
Table 19.
Bias in survey-based forecasts. June 2018 – April 2024 window.
Table 20.
Correlation of survey-based forecasts with forecast errors. June 2018 – April 2024 window.
Table 21.
Forecast accuracy of the Adjusted SPF relative to the SPF without adjustment. June 2018 – April 2024 window.
Table 22.
Forecast accuracy of the Adjusted SPF relative to the RW+ . June 2018 – April 2024 window.
Table 23.
Mean directional accuracy of the adjusted SPF. June 2018– April 2024.
Table 24.
Forecast accuracy of the LASSO-Adjusted-SPF relative to the RW+. June 2018 – April 2024 window.
Table 25.
Forecast accuracy of the Elastic Net-Adjusted-SPF relative to the SPF without adjustment. June 2018 – April 2024 window.
Table 26.
Forecast accuracy of the Elastic Net-Adjusted-SPF relative to the RW+ . June 2018 – April 2024 window.