Book review of Forecasting: An Essential Introduction

Gilliland explains that this recent book by Jennifer Castle, Michael P. Clements, and David F. Hendry is an introduction to economic rather than business forecasting. "While the two overlap in many ways, this book exposes some significant, fundamental differences that make economic forecasting an even more vexing challenge." The text is a basic, starting point for students and practitioners. "One of its great merits is that the authors are not cheerleaders or apologists for the economic forecasting profession. Instead, they acknowledge the many great failings of economic forecasts and do not shy away from addressing the generally poor reputation of the profession. . . . Despite the apparently dismal prospects for success in the economic forecasting profession, there is considerable value in the lessons shared in this book."