Except that the shocks usually have a disproportionate effect on the economy. The forecasting is useful, but any strategy contingent upon the forecasting will have to take into the account that when your forecasts fail, it won’t just be a little, it will be massive.
Except that the shocks usually have a disproportionate effect on the economy. The forecasting is useful, but any strategy contingent upon the forecasting will have to take into the account that when your forecasts fail, it won’t just be a little, it will be massive.