Forecasting in Economics and Finance

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...

Full description

Saved in:
Bibliographic Details
Published in:Annual review of economics 2016-01, Vol.8 (1), p.81-110
Main Authors: Elliott, Graham, Timmermann, Allan
Format: Article
Language:English
Subjects:
big data
Changes
Data analysis
Economic forecasting
Economics
forecast evaluation
forecast models
Forecasting
Forecasting techniques
model instability
model misspecification
parameter estimation
risk
Studies
Citations: Items that this one cites
Items that cite this one
Online Access:Request full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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.
ISSN:1941-1383
1941-1391
DOI:10.1146/annurev-economics-080315-015346