Professor Sir David Hendry, Director of the Programme on Economic Modelling in INET@Oxford, explains that while models might not always lead to accurate predictions, they can help get you back on track after a crisis.
Do better economic models lead to more accurate forecasting?
17 April 2013
with Professor Sir David Hendry
Professor of Economics
Professor Hendry investigates the theory and practice of econometric modelling and forecasting in a non-stationary and evolving world, where the model differs from the economy. When the processes being modelled are not time invariant, many of the fam...