Chang, Chia-Lin; Franses, Philip Hans; McAleer, Michael - Institute of Economic Research, Kyoto University - 2010
Macroeconomic 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 econometric model, but also incorporates an expert's touch,...