Forecasting in Economics and Finance

Posted: 18 Nov 2016  

Graham Elliott

University of California, San Diego (UCSD) - Department of Economics

Allan G. Timmermann

University of California, San Diego (UCSD) - Department of Economics; Centre for Economic Policy Research (CEPR)

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Date Written: October 2016

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

Elliott, Graham and Timmermann, Allan G., Forecasting in Economics and Finance (October 2016). Annual Review of Economics, Vol. 8, pp. 81-110, 2016. Available at SSRN: https://ssrn.com/abstract=2870852 or http://dx.doi.org/10.1146/annurev-economics-080315-015346

Graham Elliott (Contact Author)

University of California, San Diego (UCSD) - Department of Economics ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States
858-534-4481 (Phone)
858-534-7040 (Fax)

Allan G. Timmermann

University of California, San Diego (UCSD) - Department of Economics ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States
858-534-4860 (Phone)
858-534-7040 (Fax)

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

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