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Forecasting in Economics and Finance

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  • Timmermann, Allan
  • Elliott, Graham

Abstract

Practices used to address economic forecasting problems have undergone substantial changes over recent years. We review how such changes have influenced the ways in which a range of forecasting questions are being addressed. We also discuss the promises and challenges arising from access to big data. Finally, we review empirical evidence and experience accumulated from the use of forecasting methods to a range of economic and financial variables.

Suggested Citation

  • Timmermann, Allan & Elliott, Graham, 2016. "Forecasting in Economics and Finance," CEPR Discussion Papers 11354, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:11354
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    Keywords

    Forecast models; Big data; Parameter estimation; Model instability; Forecast evaluation;
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