The Past, Present, and Future of Macroeconomic Forecasting

Francis Diebold

No 6290, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Broadly defined, macroeconomic forecasting is alive and well. Nonstructural forecasting which is based largely on reduced-form correlations, has always been well and continues to" improve. Structural forecasting, which aligns itself with economic theory and hence rises and" falls with theory, receded following the decline of Keynesian theory. In recent years powerful new dynamic stochastic general equilibrium theory has been developed macroeconomic forecasting is poised for resurgence.

Date: 1997-11
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published as Journal of Economic Perspectives, Vol. 12 (1998): 175-192.

Downloads: (external link)
http://www.nber.org/papers/w6290.pdf (application/pdf)

Related works:
Journal Article: The Past, Present, and Future of Macroeconomic Forecasting (1998)
Working Paper: The past, present, and future of macroeconomic forecasting (1997)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:6290

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w6290

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().