This paper proposes a unifying theory of forecasting in the form of a Golden Rule of Forecasting. The Golden Rule is to … proliferation of big data have led forecasters to violate the Golden Rule. As a result, despite major advances in forecasting … methods, evidence that forecasting practice has improved over the past half-century is lacking. …

There is no standard economic forecasting procedure that systematically outperforms the others at all horizons and with … forecasting purposes where the traditional ARMA specification is preferred. Accounting for the Easter effect improves the forecast …

A general forecasting correcting formula, as a framework for long-use and standardized forecasts, is created. The … formula provides new forecasting resources and new possibilities for expansion of forecasting including economic forecasting … into the areas of municipal needs, middle-size and small-size business and, even, to individual forecasting. …

A general correcting formula of forecasting (as a framework for long-use and standardized forecasts) is proposed. The … formula provides new forecasting resources and areas of application including economic forecasting. …