MAM 16

April 2016The Future Of Prediction

Excerpt: Prediction is very important in economic analysis. The prediction of a variable that will be
determined in the future is called a forecast. Business enterprises require forecasts of sales, input costs
and interest rates to make capital allocation decisions. Government agencies, such as the U.S. Federal
Reserve, the International Monetary Fund and the World Bank, require forecasts of economic growth,
unemployment and inflation to better design economic policy

Theme Essay
Predicting U.S. Industrial Production with Oil and Natural Gas Prices
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