Forecasting
WARNING
You are viewing an older version of the Yalebooks website. Please visit out new website with more updated information and a better user experience: https://www.yalebooks.com
An Essential Introduction
Jennifer Castle, Michael Clements and David Hendry
View Inside
Format: PaperPrice: $25.00
Our shopping cart only supports Mozilla Firefox. Please ensure you're using that browser before attempting to purchase.
Concise, engaging, and highly intuitive—this accessible guide equips you with an understanding of all the basic principles of forecasting
Making accurate predictions about the economy has always been difficult, as F. A. Hayek noted when accepting his Nobel Prize in economics, but today forecasters have to contend with increasing complexity and unpredictable feedback loops. In this accessible and engaging guide, David Hendry, Michael Clements, and Jennifer Castle provide a concise and highly intuitive overview of the process and problems of forecasting. They explain forecasting concepts including how to evaluate forecasts, how to respond to forecast failures, and the challenges of forecasting accurately in a rapidly changing world.
Topics covered include: What is a forecast? How are forecasts judged? And how can forecast failure be avoided? Concepts are illustrated using real-world examples including financial crises, the uncertainty of Brexit, and the Federal Reserve’s record on forecasting. This is an ideal introduction for university students studying forecasting, practitioners new to the field and for general readers interested in how economists forecast.
Making accurate predictions about the economy has always been difficult, as F. A. Hayek noted when accepting his Nobel Prize in economics, but today forecasters have to contend with increasing complexity and unpredictable feedback loops. In this accessible and engaging guide, David Hendry, Michael Clements, and Jennifer Castle provide a concise and highly intuitive overview of the process and problems of forecasting. They explain forecasting concepts including how to evaluate forecasts, how to respond to forecast failures, and the challenges of forecasting accurately in a rapidly changing world.
Topics covered include: What is a forecast? How are forecasts judged? And how can forecast failure be avoided? Concepts are illustrated using real-world examples including financial crises, the uncertainty of Brexit, and the Federal Reserve’s record on forecasting. This is an ideal introduction for university students studying forecasting, practitioners new to the field and for general readers interested in how economists forecast.
David Hendry is professor of economics, Oxford University and director of economic modelling, Institute for New Economic Thinking. Michael Clements is professor of econometrics, Henley Business School. Jennifer Castle is tutorial fellow, Oxford University and research fellow at Institute for New Economic Thinking.
ISBN: 9780300244663
Publication Date: June 11, 2019
Publication Date: June 11, 2019
240 pages, 5 1/2 x 8 1/2
62 figs
62 figs
