publication . Article . 2008

Economic Forecasting in a Changing World.

Michael P. Clements; David F. Hendry;
Open Access English
  • Published: 24 Jan 2008 Journal: Capitalism and Society, volume 3, issue 2
  • Publisher: The Berkeley Electronic Press.
  • Country: United Kingdom
Abstract
This article explains the basis for a theory of economic forecasting developed over the past decade by the authors. The research has resulted in numerous articles in academic journals, two monographs, Forecasting Economic Time Series, 1998, Cambridge University Press, and Forecasting Nonstationary Economic Time Series, 1999, MIT Press, and three edited volumes, Understanding Economic Forecasts, 2001, MIT Press, A Companion to Economic Forecasting, 2002, Blackwells, and the Oxford Bulletin of Economics and Statistics, 2005. The aim here is to provide an accessible, non-technical, account of the main ideas. The interested reader is referred to the monographs for derivations, simulation evidence, and further empirical illustrations, which in turn reference the original articles and related material, and provide bibliographic perspective.
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Subjects
free text keywords: HB, Economics and Econometrics, Sociology and Political Science, History, Economics, Economic forecasting, Perspective (graphical), Classical economics
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