Table 6 Comparison of the fitting and forecasted abilities under the ARDL and NARDL methods.
Models | Fitting horizon | Predicted horizon | ||||||
---|---|---|---|---|---|---|---|---|
MAD | MAPE | RMSE | MER | MAD | MAPE | RMSE | MER | |
ARDL | 662.949 | 44.545 | 1005.782 | 0.111 | 741.521 | 19.611 | 821.298 | 0.189 |
NARDL | 567.132 | 9.873 | 779.572 | 0.095 | 432.998 | 11.166 | 547.552 | 0.110 |
DM | 1.282 | 1.809 | 1.017 | – | 8.351 | 7.059 | 4.659 | – |
P | 0.201 | 0.072 | 0.311 | – | < 0.001 | < 0.001 | < 0.001 | – |