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The macroeconomic projections of the German government: A comparison to an independent forecasting institution by Robert Lehmann; Timo Wollmershäuser is a Economics, Econometrics and Finance article available to read on EtoBox.
What is The macroeconomic projections of the German government: A comparison to an independent forecasting institution about?
## Abstract This paper investigates the macroeconomic projections of the German government since the 1970s and compares it to those of the Joint Economic Forecast, which is an independent forecasting institution in Germany. Our results indicate that both nominal GDP projections are upward biased for longer forecast horizons, which seems to be driven by a false assessment of the decline in Germany’s trend growth and a systematic failure to correctly anticipate recessions. Furthermore, we show that the German government deviates from the projections of the Joint Economic Forecast, which in fact worsened the forecast accuracy. Finally, we find evidence that these deviations are driven by political motives.
Who reads The macroeconomic projections of the German government: A comparison to an independent forecasting institution?
It is typically read by researchers, students, and practitioners in Economics, Econometrics and Finance.
- Author
- Robert Lehmann; Timo Wollmershäuser
- Publisher
- Walter de Gruyter GmbH
- Published
- 2020
- Language
- EN
- Field
- Economics, Econometrics and Finance (Social Sciences)