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A process m process, also known as MA(q), is the general finite-order system that happens to be an autoregressive representation of a stationary series. It is stationary in the sense that current conditionsal expectations are dependent on a function of the current and lagged shocks. This function is called the partial autocorrelation.
The MA(q) does not have an unique MA polynomial, unlike AR processes. In fact, there are many possibilities MA(q) polynomials for lag operators that could be stationary and possess the same asymptotic properties.
To ensure that the process is causal It is common to place invertibility limitations on the MA polynomial. This ensures that only past events (not future ones) are able to predict future events.
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