Forecasting is Fallible, But Necessary

In my first piece for Project Syndicate I build on my earlier post on the lessons for economic forecasters.  The subtitle of their post prompted some questions about the usefulness of big data. There’s no doubt that economic forecasters can benefit from machine learning, which provides powerful ways of spotting patterns in past (big) data. Nevertheless, this focus on past data means that is of limited use for forecasting in the midst of uncertainty and unprecedented structural change…

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This entry was posted in Big Data, Economic Forecasting, Fintech, Innovation, Macro, Macroeconomics, Network economics, Politics, Technology and tagged , , , , . Bookmark the permalink.

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