Forecasts and expectations: Some evidence for the U.K.

  title={Forecasts and expectations: Some evidence for the U.K.},
  author={Karen C. Holden and David A. Peel},
Forecasts from econometric models have been given a lot of publicity in the U.K. This paper examines the performance of five major models in forecasting inflation and the rate of growth. Two types of forecast are considered: the annual pre-budget ones and a quarterly series. It is suggested that public forecasts provide a cheap method of implementing economically rational expectations. 

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