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1 posts on "forecasting errors"
November 25, 2011

The Failure to Forecast the Great Recession

The economics profession has been appropriately criticized for its failure to forecast the large fall in U.S. house prices and its propagation first into an unprecedented financial crisis and subsequently into the Great Recession.

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Posted at 6:00 pm in Forecasting, Macroeconomics, Monetary Policy, Recession, Unemployment | Permalink | Comments (30)

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

The editors are Michael Fleming, Andrew Haughwout, Thomas Klitgaard, and Asani Sarkar, all economists in the Bank’s Research Group.

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