Time-Series Data: Diebold-Mariano Test or Wooldridge Test?

[Ibrahim Filiz]

Dear all,

I have time-series data in the format that you can find next to this text. I want to investigate if the experts’ forecasts pvc ‘i are significantly more accurate than the respective naive forecast pvn, compared to the actual value pvt. Do you recommend using the Diebold-Mariano Test or the Wooldridge Test?

Thanks,
Ibrahim

	time	pvt	pvn	pvc1	pvc2	pvc …	pvc n
obs	end of year	real values	naive forecast	forecast institute 1	forecast institute 2	forecast institute …	forecast institute n
1	2002	2892,63	5160,1	.	5500	.	5700
2	2003	3965,16	2892,63	4000	.	.	3000
3	2004	4256,08	3965,16	4300	4600	.	4000
4	2005	5408,26	4256,08	4500	4700	.	4100
5	2006	6596,92	5408,26	6100	5700	5100	5900
6	2007	8067,32	6596,92	7200	6800	6000	6850
7	2008	4810,2	8067,32	9000	8300	8500	9200
8	2009	5957,43	4810,2	6500	6000	6200	5100
9	2010	6914,19	5957,43	6500	6500	6100	7100
10	2011	5898,35	6914,19	7300	7700	6200	7200