It has long been recognized that the Milton Friedman's 1953 essay on economic methodology (or F53, for short) displays open-ended unclarities. For example, the notion of "unrealistic assumption" plays a role of absolutely fundamental importance in his methodological framework, but the term...

We use a previously unexploited consensus survey data set to compare accuracy, unbiasedness and efficiency of Current Account growth forecasts between two panels of 25 developed and 18 developing countries following the methodologies in the existing literature. Forecast errors are bigger for the...