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Forecasting in Economics and Finance

Author

Listed:
  • Graham Elliott

    (Department of Economics, University of California, San Diego, La Jolla, California 92093)

  • Allan Timmermann

    (Department of Economics, University of California, San Diego, La Jolla, California 92093
    Center for Research in Econometric Analysis of Time Series, Aarhus University, DK-8210 Aarhus, Denmark)

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

  • Graham Elliott & Allan Timmermann, 2016. "Forecasting in Economics and Finance," Annual Review of Economics, Annual Reviews, vol. 8(1), pages 81-110, October.
    • Handle: RePEc:anr:reveco:v:8:y:2016:p:81-110
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    File URL: http://www.annualreviews.org/doi/10.1146/annurev-economics-080315-015346
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