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Unbiasedness, Efficiency and the Combination of Forecasts

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Published
<mark>Journal publication date</mark>07/1989
<mark>Journal</mark>Journal of Forecasting
Issue number3
Volume8
Number of pages14
Pages (from-to)175-188
Publication StatusPublished
<mark>Original language</mark>English

Abstract

This paper considers the problem of determining whether forecasts are unbiased and examines the implications this has for combining different forecasts. The practical issues of how economic forecasts might be combined are discussed. There is an empirical illustration of the procedures in which the properties of UK forecasts from the London Business School, the National Institute, the Henley Centre for Forecasting, Phillips and Drew and the OECD are examined.