The directional accuracy of 15-months-ahead forecasts made by the IMF
A considerable number of studies have investigated the directional accuracy of macroeconomic forecasts, and have obtained mixed results for long-term forecasts. This paper re-examines this issue using the IMF forecasts for the G7 countries, and find that combining the long-term and the short-term forecasts significantly improves the directional accuracy.
Volume (Year): 10 (2003)
Issue (Month): 6 ()
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