Papers › Score-based calibration testing for multivariate forecast distributions

Score-based calibration testing for multivariate forecast distributions

29 Nov 2022arXiv:2211.16362archive 2025-07-28

Malte Knüppel, Fabian Krüger, Marc-Oliver Pohle

Calibration tests based on the probability integral transform (PIT) are routinely used to assess the quality of univariate distributional forecasts. However, PIT-based calibration tests for multivariate distributional forecasts face various challenges. We propose two new types of tests based on proper scoring rules, which overcome these challenges. They arise from a general framework for calibration testing in the multivariate case, introduced in this work. The new tests have good size and power properties in simulations and solve various problems of existing tests. We apply the tests to forecast distributions for macroeconomic and financial time series data.

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