Macro-economic forecasts are often based on the interaction between econometric models and experts. A forecast that is … based only on an econometric model is replicable and may be unbiased, whereas a forecast that is not based only on an … modifies the estimation routine due to the assumption that the difference between a replicable and a non-replicable forecast …

judgmental adjustment of model-based forecasts, whether forecast updates are progressive, on a constrained mixture vector …