2009 | OriginalPaper | Buchkapitel
Multi-objective Economic Early Warning and Economic Risk Measure
verfasst von : Guihuan Zheng, Jue Wang
Erschienen in: Cutting-Edge Research Topics on Multiple Criteria Decision Making
Verlag: Springer Berlin Heidelberg
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The leading indicators approach is the most prominent and widely used method for economic early warning. However, only the single target’ analysis is focused. In fact, there is more to any economy than a single overarching business target. In this paper, the multi-dimension business climate index approach is introduced to carry out multi-objective economic early warning and measure economic risk. First, the multi-dimension coincident index is constructed directly in the unified framework based on FHLR method. Second, vector space approach and probability analysis of multi-dimension impact point are introduced to provide early warning analysis of multi-objective and measure economic risk. Then, it is applied to research Chinese two-object economic system. The empirical results show that multi-dimension climate index approach may provide a coherent and evolving outlook for multi-objective early warning and build a consistent track record of predictions.