In this paper, we use survey data to analyze the accuracy, unbiasedness, and the efficiency of professional macroeconomic forecasts. We analyze a large panel of individual forecasts that has not been analyzed in the literature so far. We provide evidence on the properties of forecasts for all G7...

In this paper, we use survey data to analyze the accuracy, unbiasedness, and the efficiency of professional macroeconomic forecasts. We analyze a large panel of individual forecasts that has not been analyzed in the literature so far. We provide evidence on the properties of forecasts for all G7...

This discussion paper resulted in a publication in the <I>International Journal of Forecasting</I> (2013). Volume 29(4), pages 622-627.<P> It is common practice to evaluate fixed-event forecast revisions in macroeconomics by regressing current forecast revisions on one-period lagged forecast revisions....</p></i>

It is common practice to evaluate fixed-event forecast revisions in macroeconomics by regressing current revisions on one-period lagged revisions. Under weak-form efficiency, the correlation between the current and one-period lagged revisions should be zero. The empirical findings in the...

It is common practice to evaluate fixed-event forecast revisions in macroeconomics by regressing current revisions on one-period lagged revisions. Under weak-form efficiency, the correlation between the current and one-period lagged revisions should be zero. The empirical findings in the...

It is common practice to evaluate fixed-event forecast revisions in macroeconomics by regressing current revisions on one-period lagged revisions. Under weak-form efficiency, the correlation between the current and one-period lagged revisions should be zero. The empirical findings in the...