TITLE:
Exlog Weighted Sum Model for Long Term Forecasting
AUTHORS:
Luvsandash Ouyntsetseg, Natsagdorj Tungalag, Rentsen Enkhbat
KEYWORDS:
Exponential Model, Logistic Model, Exlog Weighted Sum Model, Forecasting
JOURNAL NAME:
iBusiness,
Vol.14 No.2,
April
28,
2022
ABSTRACT: Long-term forecasting of key macroeconomic
indicators such as population is very important for future development policy-making. Population plays an
important role in economic decision-making, social security and economic growth. So it is important to develop
a good model for predicting economic indicators. In order to improve the growth
model, we introduce a new model called Exlog Weighted Sum Model for predicting
macroeconomic indicators. This model combines both exponential and logistic
models. The proposed model was tested for predicting Mongolian population up to
2040.