I'm stuck in increasing my forecasting period. I want to forecast the Consumer Confidence Index and I have 340 observations, I'm using a lagged variable to regress my model. I want to predict the 2 step aheads and 3 step aheads forecast but I'm not sure in which way I can use my forecast value for the first period to obtain forecast for further periods. My stata code is below:
gen forecastcci=.
local i=1
while `i'<13 {
* forecasting
regress CCI l.CCI if inrange(t, t[209+`i'], t[257+`i'])
predict cci1 if inrange(t, t[257+`i'], t[257+`i']),
replace forecastcci=cci1 if inrange(t, t[257+`i'], t[257+`i']),
drop cci1
local i=`i'+1
}
I'm not sure how I can use the forecast value of period 258 in order to use this to obtain a prediction for period 259.
Maybe there are some people here with usefull tips!
Thanks in advance!
gen forecastcci=.
local i=1
while `i'<13 {
* forecasting
regress CCI l.CCI if inrange(t, t[209+`i'], t[257+`i'])
predict cci1 if inrange(t, t[257+`i'], t[257+`i']),
replace forecastcci=cci1 if inrange(t, t[257+`i'], t[257+`i']),
drop cci1
local i=`i'+1
}
I'm not sure how I can use the forecast value of period 258 in order to use this to obtain a prediction for period 259.
Maybe there are some people here with usefull tips!
Thanks in advance!
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