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m a ProcessThe m process, denoted by MA(q), happens to be a general finite-order process that is an autoregressive form of a stationary series with covariance. It is stationary in the sense that the current expectation of conditional conditions is solely dependent on the lagged and current shocks. This is referred to as the partial autocorrelation.
MA(q) MA(q) does not have an unique MA polynomial, unlike AR processes. There are a variety of MA(q) and lag operator polynomials that could be stationary and have the same asymptotic properties.
It is therefore common to impose invertibility constraints on the MA polynomial in order to guarantee that the process is causal. This ensures that events from the past (and not future ones) are the only ones that can be predicted by the future.
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