Forecasting Unemployment Rates in Greece

Authors

  • Dritsakis Nikolaos University of Macedonia,156 Egnatia Street, Thessaloniki P.C 54636, Greece
  • Athianos Stergios Technological Educational Institute of Central Macedonia, Terma Magnesias, Serres P.C 62124, Greece
  • Stylianou Tasos Technological Educational Institute of Central Macedonia, Terma Magnesias, Serres P.C 62124, Greece
  • Samaras Ioannis Technological Educational Institute of Central Macedonia, Terma Magnesias, Serres P.C 62124, Greece

Keywords:

ARIMA models, Box-Jenkins, unemployment rates, forecasting, Greece.

Abstract

This paper aims to model and forecast the evolution of unemployment rate in Greece, using the Box- Jenkins methodology during the period 1980-2013. The empirical study relieves that the most adequate model for the unemployment rate for this period is ARIMA (1,2,1). Using this model, we forecast the values of unemployment rate for 2014, 2015 and 2016. We found that the unemployment rate for 2014, 2015 and 2016 are 26.39% , 25.33% and 25.27% respectively.

References

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Published

2018-01-10

How to Cite

Nikolaos, D., Stergios, A., Tasos, S., & Ioannis, S. (2018). Forecasting Unemployment Rates in Greece. International Journal of Sciences: Basic and Applied Research (IJSBAR), 37(1), 43–55. Retrieved from https://www.gssrr.org/index.php/JournalOfBasicAndApplied/article/view/7216

Issue

Vol. 37 No. 1 (2018)

Section

Articles

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