10.1002/for.980

Are 16-month-ahead forecasts useful? A directional analysis of Japanese GDP forecasts

Abstract

Past literature casts doubt on the ability of long-term macroeconomic forecasts to predict the direction of change. We re-examine this issue using the Japanese GDP forecast data of 37 institutions, and find that their 16-month-ahead forecasts contain valuable information on whether the growth rate accelerates or not. Copyright © 2006 John Wiley _ Sons, Ltd.

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Research Papers in Economics

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Last time updated on 7/6/2012

This paper was published in Research Papers in Economics.

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