This paper looks at combining expert forecasts for the US macro data from Bloomberg. Contrary to Genre et al. (2013) (who analyzed the European case), the finding is that we can improve upon the simple benchmarks such as mean or median. To achieve this improvement one needs to identify a small...

AbstractForecast combination—the aggregation of individual forecasts from multiple experts or models—is a proven approach to economic forecasting. To date, research on economic forecasting has concentrated on local combination methods, which handle separate but related forecasting tasks in...