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Published on: November 10, 2023
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Short-term Covid-19 forecast for latecomers.
Marcelo C Medeiros1, Alexandre Street2, Davi Valladão3
1Department of Economics, Pontifical Catholic University of Rio de Janeiro, Brazil.
Summary
Reliable COVID-19 case and fatality forecasts are crucial. This study introduces a penalized LASSO regression model for short-term predictions in latecomer countries, outperforming other methods.
Area of Science:
- Epidemiology
- Biostatistics
- Public Health
Background:
- Despite vaccination, several countries face significant COVID-19 waves.
- Accurate short-term forecasting of cases and fatalities is essential for healthcare management.
Purpose of the Study:
- To develop a reliable statistical method for real-time, short-term forecasting of COVID-19 cases and deaths.
- To specifically address the needs of 'latecomer' countries in their pandemic response.
Main Methods:
- Utilized a penalized LASSO regression model incorporating an error correction mechanism.
- Modeled latecomer countries based on countries at similar pandemic stages previously.
- Employed an adaptive rolling-window scheme for forecasting.
Main Results:
- The proposed methodology demonstrated strong performance across 45 countries.
- Detailed analysis for Brazil, Chile, Mexico, and Portugal confirmed its effectiveness.
- The model significantly outperformed alternative forecasting methods.
Conclusions:
- The penalized LASSO regression with error correction provides accurate short-term forecasts for COVID-19.
- This approach aids in better short-run healthcare system management.
- The framework is adaptable for regional forecasting and other infectious diseases.
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