Journal of
Economics and International Finance

  • Abbreviation: J. Econ. Int. Finance
  • Language: English
  • ISSN: 2006-9812
  • DOI: 10.5897/JEIF
  • Start Year: 2009
  • Published Articles: 363

Full Length Research Paper

The optimal forecast model for Ghana’s inflation: A stochastic approach

Francis Delali Baeta
  • Francis Delali Baeta
  • Department of Statistics and Mathematics, Faculty of Applied Science and Technology, Ho Technical University Ghana
  • Google Scholar
John Tumaku
  • John Tumaku
  • Department of Industrial Economics, School of Business Administration, Zhongnan University of Economics and Law China.
  • Google Scholar
Emanuel Kwame Ahiave
  • Emanuel Kwame Ahiave
  • Department of Statistics and Mathematics, Faculty of Applied Science and Technology, Ho Technical University Ghana
  • Google Scholar


  •  Received: 27 September 2018
  •  Accepted: 30 November 2018
  •  Published: 28 February 2019

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Bailey JM (1956). The welfare cost of inflationary finance. Journal of political economy 64:93-110.
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Dickey D, Fuller W (1979). Distribution of the Estimates for Autoregressive Time Series with a Unit Root. Journal of the American Statistical Association 74:427-31.

 
 

Kwiatkowski D, Phillips PCB, Schmidt P, Shin Y (1992). Testing the Null Hypothesis of Stationarity against the Alternative of a Unit-root; How sure are we that Economic Time Series have a unit-root? Journal of Econometrics 54:159-178.
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Ljung G, Box G (1978). On a Measure of Lack of Fit in Time Series Models, Biometrika 66:67-72.
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Lubowa W, Wokadala J, Nyanzi MT (2014). Modelling and forecasting inflation in Uganda (2005-2014). International Journal of Sustainable Economy 9(2):121-141. 
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Meyler A, Kenny G, Quin T (1998). Forecasting Irish inflation in using ARIMA models. Technical Paper 3(98):85-102

 
 

Okafor C, Shaibu I (2013). Application of Arima Models to Nigerian Inflation Dynamics. Research Journal of Finance and Accounting 4(3):2222-1697 (Paper), 2222-2847 (Online).

 
 

Okyere F, Mensah C (2014). Empirical Modelling and Model Selection for Forecasting Monthly Inflation of Ghana. Mathematical Theory and Modeling 4(3):99-106.

 
 

Sulema N, Sarpong S (2012). Empirical approach to modelling and forecasting inflation in Ghana. Current Research Journal of Economics Theory 4(3):83-87.

 
 

Sinaj V (2014). Models to forecast inflation in Albania. International Journal of Scientific Research 5(1):2229-5518.