Forecasts guide decisions in all areas of economics and finance.
Economic policy makers base their decisions on business cycle
forecasts, investment decisions of firms are based on demand
forecasts, and portfolio managers try to outperform the market
based on financial market forecasts. Forecasts extract relevant
information from the past and help to reduce the inherent
uncertainty of the future. The topic of this special issue of the
Journal of Economics and Statistics is the theory and practise of
forecasting and forecast evaluation and an overview of the state of
the art of forecasting.
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