Three-decade-old research suggests that although regression coefficients obtained with ordinary least squares (OLS) are optimal for fitting a model to a sample, unless the N over which the model was estimated is large, they are generally not very much superior and frequently inferior to equal...

The Fiscal Model of Presidential Elections, as modified after its failure to forecast President Obama's reelection in 2012, accounts for all but three out of sample retrodictions since 1916. This year, its point forecast has the incumbent Democrats losing with 48.2% of the two-party vote