McMahon, Michael F.; Sterne, Gabriel; Thompson, Jamie N.R - 2015
Most macroeconomic forecasters underestimated global investment during the late 1990s. One potential reason was that …-of-sample forecasts largely predicted the global investment boom of the late 1990s. The main factor behind the improved model performance … is the distinction between investment in ICT assets and investment in other assets, using disaggregated investment data …