WRC (World Reserve Currency) Shifting Year Forecast Using Newton Divided-Difference Tables and Polynomials with Error Analyses
Based on the historical data of the world reserve currency (WRC) shifting year (WRCSY), this paper uses Newton divided-difference (DD) table and Newton interpolation polynomial to generate the forecast model to measure the next (i.e., coming) WRC shift year. It is a hot topic of intelligent future-system measure and control. Three different error-analysis methods (i.e., those of lower-end evaluation, old Newton DD table, and new Newton DD table) are used to analyze the consistency of the results with the different degrees, from degree 1 to degree 5. Based on the forecasted results of Newton degree-1, degree-2, and degree-3 polynomials, the next shift may occur in 2030 or 2031, with the highest frequency among all possible years. That is, in this paper, Newton interpolation method is applied to forecasting the transformation of world economic trends, specifically WRC. Theoretically, we also analyze the accuracy and robustness of the forecasted years. In reality, we provide a new perspective on the trend of the world economic pattern.
Authors
- Shougang Ren (ORCID: https://orcid.org/0000-0002-0366-5556)
- Yunong Zhang (ORCID: https://orcid.org/0000-0002-2228-0395)
- Xiaoyan Zhang (ORCID: https://orcid.org/0009-0005-9263-2842)
Institutions
- Sun Yat-sen University (CN)
Publication Details
- Published
- 2024-09-20
- DOI
- https://doi.org/10.1109/csis-iac63491.2024.10919270
- Primary Topic
- Monetary Policy and Economic Impact
- Type
- article
- Field-Weighted Citation Impact
- 0.00
Funders
- National Natural Science Foundation of China
- Natural Science Foundation of Guangdong Province