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JWE-Articles
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Journal of Wine Economics Volume 14 | 2019 | No. 2
»
A Note on Forecasting Alcohol Demand

A Note on Forecasting Alcohol Demand

Derby Voon & James Fogarty
JEL Clasification: D12, C53
Pages: 208-213
Abstract

A recent study in the Journal of Wine Economics presented forecasts of future alcohol con- sumption derived using the ARIMA (Box–Jenkins) method. Alcohol consumption forecasts can be developed using many different methodologies. In this Note we highlight the value of using multiple methods to develop alcohol consumption forecasts, and demonstrate the capability of the R software platform as a general forecasting tool.

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