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Summary: Understanding Economic Forecasts
Understanding Economic Forecasts Historically, the theory of forecasting that underpinned actual practice in economics has been based on two key assumptions—-that the model was a good representation of the economy and that the structure of the economy would remain relatively unchanged. In reality, forecast models are mis-specified, the economy is subject to unanticipated shifts, and
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Understanding Economic Forecasts
Understanding Economic Forecasts Historically, the theory of forecasting that underpinned actual practice in economics has been based on two key assumptions—-that the model was a good representation of the economy and that the structure of the economy would remain relatively unchanged. In reality, forecast models are mis-specified, the economy is subject to unanticipated shifts, and
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