Riksbank paper offers method for tackling distorted forecast evaluation
Authors adjust for different amounts of information available
A working paper published by Sveriges Riksbank outlines a method for reducing distortions when evaluating the performance of different forecasts.
A common task for economists is to compare the accuracy of forecasts, which may guide economic and political decisions, Michael Andersson, Ted Aranki and André Reslow say in their paper, published on September 15. The problem is that forecasts made at different points in time may have access to different amounts of information, meaning direct
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