Deschamps, Bruno; Ioannidis, Christos - In: Manchester School 82 (2014) 5, pp. 509-523
type="main" <p>We examine the efficiency of multivariate macroeconomic forecasts by estimating a vector autoregressive model on the forecast revisions of four variables (GDP, inflation, unemployment and wages). Using a data set of professional forecasts for the G7 countries, we find evidence of...</p>