A vital challenge confronting economists is how to forecast. The task is yet more exacting but ever more pertinent during a recession because livelihoods seem to depend on forecasts – will unemployment fall soon enough to stave off foreclosures?
How should we make economic forecasts?
J James Reade, David F. Hendry, 11 June 2009
Topics: Frontiers of economic research
Tags: autometrics, forecasting, general-to-specific model searches, model averaging
Most Read
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The case for 4% inflationBall
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
