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This study evaluates potential migration flows to the European Union from its eastern neighbors and Croatia. We perform out-of-sample forecasts using an adaption of the model of Hatton (1995) to time series cross-sectional data about post-enlargement migration flows following the EU's 2004...
Persistent link: https://www.econbiz.de/10010194751
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10009311486
Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management -- in both the public and private sectors. This paper outlines five open questions in the literature,...
Persistent link: https://www.econbiz.de/10003278954
We review the efficacy of three approaches to forecasting elections: econometric models that project outcomes on the basis of the state of the economy; public opinion polls; and election betting (prediction markets). We assess the efficacy of each in light of the 2004 Australian election. This...
Persistent link: https://www.econbiz.de/10003334619
Prediction markets - markets used to forecast future events - have been used to accurately forecast the outcome of …
Persistent link: https://www.econbiz.de/10009568582
errors either in the form of numbers or graphs; and in the fourth treatment (Forecast), participants are offered a forecast … to Baseline, b) Feedback-N, Feedback-G, and Forecast significantly reduce bias relative to both Baseline and Step, c) the …
Persistent link: https://www.econbiz.de/10012288390
Many countries consider the lifting of restrictions of social contacts (RSC). We quantify the effects of RSC for Germany. We initially employ a purely statistical approach to predicting prevalence of COVID19 if RSC were upheld after April 20. We employ these findings and feed them into our...
Persistent link: https://www.econbiz.de/10012202358
While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability of future events, Manski (2004) has recently argued that there is little existing theory supporting this practice. We provide relevant analytic foundations, describing sufficient...
Persistent link: https://www.econbiz.de/10003310964
forecast errors; the training effect suggests that modest educational interventions can durably improve forecasting skills …. Forecast receipt increased demand for protective masks and increased the responsiveness of outdoor time to pollution. Forecast …
Persistent link: https://www.econbiz.de/10013472006
mortality if and only if mortality risk is convex in forecast errors. We test for such convexity using data on the universe of …
Persistent link: https://www.econbiz.de/10014309747