Hi there,
I have a project that I am working on, in which I have to forecast unemployment rate for each month for the next year. I have installed freduse in order to input historical unemployment data from the FRED website into STATA. I have already appended an additional 12 months to the list of years that I have. From there, I used "predict yp" to find predicted values for the out-of-sample dates that I appended to the original in-sample dates that I have. My question is that when I did this predict command, the yp value is the same for all 12 out of sample forecasts that I am looking for. Is this correct, and what does the predicted value mean?
I have a project that I am working on, in which I have to forecast unemployment rate for each month for the next year. I have installed freduse in order to input historical unemployment data from the FRED website into STATA. I have already appended an additional 12 months to the list of years that I have. From there, I used "predict yp" to find predicted values for the out-of-sample dates that I appended to the original in-sample dates that I have. My question is that when I did this predict command, the yp value is the same for all 12 out of sample forecasts that I am looking for. Is this correct, and what does the predicted value mean?
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