vars (version 1.6-1)

fanchart: Fanchart plot for objects of class varprd

Description

Time Series plots of VAR forecasts with differently shaded confidence regions (fanchart) for each endogenous variable.

Usage

fanchart(x, colors = NULL, cis = NULL, names = NULL, main = NULL, ylab =
NULL, xlab = NULL, col.y = NULL, nc, plot.type = c("multiple",
"single"), mar = par("mar"), oma = par("oma"), ... )

Arguments

x

An object of class ‘varprd’; generated by predict().

colors

Character vector of colors to be used for shading. If unset, a gray color scheme is used.

cis

A numeric vector of confidence intervals. If unset the sequence from 0.1 to 0.9 is used (step size 0.1).

names

Character vector, names of variables for fancharts. If unset, all variables are plotted.

main

Character vector, title for fanchart plots.

ylab

Character, ylab for fanchart.

xlab

Character, xlab for fanchart.

col.y

Character, color for plotted time series.

plot.type

Character, if multiple all fancharts appear in one device.

nc

Integer, number of columns if plot.type is multiple.

mar

Vector, setting of margins.

oma

Vector, setting of outer margins.

...

Dot argument, passed to plot.ts.

Author

Bernhard Pfaff

References

Britton, E., P.G. Fisher and J.D. Whitley (1998), Inflation Report projections: understanding the fan chart, Bank of England Quarterly Bulletin, February, Bank of England, pages 30-37.

See Also

VAR, predict, plot, par

Examples

if (FALSE) {
data(Canada)
var.2c <- VAR(Canada, p = 2, type = "const")
var.2c.prd <- predict(var.2c, n.ahead = 8, ci = 0.95)
fanchart(var.2c.prd)
}