Long Run Growth Forecasting
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Author | : Stefan Bergheim |
Publisher | : Springer Science & Business Media |
Total Pages | : 194 |
Release | : 2008-03-29 |
Genre | : Business & Economics |
ISBN | : 354077680X |
Download Long-Run Growth Forecasting Book in PDF, Epub and Kindle
This book explores how to set up an empirical model that helps with forecasting long-term economic growth. GDP forecasts for the years 2006 to 2020 for 40 countries are derived in a transparent way. Offering a systematic approach to models of potential GDP that can also be used for forecasts of more than a decade it fills the wide gap between the high demand for such models by banks, international organizations, and governments on the one hand and the limited supply on the other hand. Frequent forecast failures in the past (e.g. Japan 1990, Asia 1997) and the heavy economic losses they produced motivated the work. The book assesses the large number of theories of economic growth, the drivers of economic growth, the available datasets and the empirical methods on offer. A preference is shown for evolutionary models and an augmented Kaldor model. The book uses non-stationary panel techniques to find pair-wise cointegration among GDP per capita and its main correlates.
Author | : Ross Levine |
Publisher | : World Bank Publications |
Total Pages | : 32 |
Release | : 1996 |
Genre | : Aumentoa de la produccion |
ISBN | : 6101919153 |
Download stock market development and long run growth Book in PDF, Epub and Kindle
Author | : T S Khachaturov |
Publisher | : Springer |
Total Pages | : 468 |
Release | : 2015-12-30 |
Genre | : Business & Economics |
ISBN | : 1349026492 |
Download Methods of Long-Term Planning and Forecasting Book in PDF, Epub and Kindle
Author | : Mr.Pau Rabanal |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2010-11-01 |
Genre | : Business & Economics |
ISBN | : 1455209465 |
Download Forecasting U.S. Investment Book in PDF, Epub and Kindle
The driving force of U.S. economic growth is expected to rotate from the fiscal stimulus and inventory rebuilding in 2009 to private demand in 2010, with consumption and particularly investment expected to be important contributors to growth. The strength of U.S. investment will hence be a crucial issue for the U.S. and global recovery. On the basis of several traditional models of investment, we forecast that the U.S. investment in equipment and software will grow by about 10 percent on average over the 2010-12 period. The contribution of investment to real GDP growth will be 0.8 percentage points on average over the same period.
Author | : Klaus-Peter Hellwig |
Publisher | : International Monetary Fund |
Total Pages | : 43 |
Release | : 2018-12-07 |
Genre | : Business & Economics |
ISBN | : 148438959X |
Download Overfitting in Judgment-based Economic Forecasts: The Case of IMF Growth Projections Book in PDF, Epub and Kindle
I regress real GDP growth rates on the IMF’s growth forecasts and find that IMF forecasts behave similarly to those generated by overfitted models, placing too much weight on observable predictors and underestimating the forces of mean reversion. I identify several such variables that explain forecasts well but are not predictors of actual growth. I show that, at long horizons, IMF forecasts are little better than a forecasting rule that uses no information other than the historical global sample average growth rate (i.e., a constant). Given the large noise component in forecasts, particularly at longer horizons, the paper calls into question the usefulness of judgment-based medium and long-run forecasts for policy analysis, including for debt sustainability assessments, and points to statistical methods to improve forecast accuracy by taking into account the risk of overfitting.
Author | : Peter J. N. Sinclair |
Publisher | : Routledge |
Total Pages | : 402 |
Release | : 2009-12-16 |
Genre | : Business & Economics |
ISBN | : 1135179778 |
Download Inflation Expectations Book in PDF, Epub and Kindle
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author | : John E. Silvia |
Publisher | : John Wiley & Sons |
Total Pages | : 400 |
Release | : 2014-03-10 |
Genre | : Business & Economics |
ISBN | : 1118569547 |
Download Economic and Business Forecasting Book in PDF, Epub and Kindle
Discover the secrets to applying simple econometric techniques to improve forecasting Equipping analysts, practitioners, and graduate students with a statistical framework to make effective decisions based on the application of simple economic and statistical methods, Economic and Business Forecasting offers a comprehensive and practical approach to quantifying and accurate forecasting of key variables. Using simple econometric techniques, author John E. Silvia focuses on a select set of major economic and financial variables, revealing how to optimally use statistical software as a template to apply to your own variables of interest. Presents the economic and financial variables that offer unique insights into economic performance Highlights the econometric techniques that can be used to characterize variables Explores the application of SAS software, complete with simple explanations of SAS-code and output Identifies key econometric issues with practical solutions to those problems Presenting the "ten commandments" for economic and business forecasting, this book provides you with a practical forecasting framework you can use for important everyday business applications.
Author | : |
Publisher | : |
Total Pages | : 108 |
Release | : 1976 |
Genre | : Economic development |
ISBN | : |
Download U.S. Economic Growth from 1976 to 1986: Forecasts of long-run economic growth Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : 1046 |
Release | : 1974 |
Genre | : Economic history |
ISBN | : |
Download OECD Economic Outlook Book in PDF, Epub and Kindle
Author | : Giang Ho |
Publisher | : International Monetary Fund |
Total Pages | : 27 |
Release | : 2014-07-02 |
Genre | : Business & Economics |
ISBN | : 1498309828 |
Download Growth Book in PDF, Epub and Kindle
Forecasters often predict continued rapid economic growth into the medium and long term for countries that have recently experienced strong growth. Using long-term forecasts of economic growth from the IMF/World Bank staff Debt Sustainability Analyses for a panel of countries, we show that the baseline forecasts are more optimistic than warranted by past international growth experience. Further, by comparing the IMF’s World Economic Outlook forecasts with actual growth outcomes, we show that optimism bias is greater the longer the forecast horizon.