Economics
Long-Run Growth Forecasting
Forecasts are usually made to help and guide decision making. Good fore- casts are preconditions for good, informed decisions. These decisions may vary from a financial market bet on interest rate changes to the policy decision on how to structure a country’s pension system. Ideally, decision-makers should be as well prepared as possible for the future, which would allow them to act appropriately. To detect challenges and opportunities in a timely manner decision-makers require a good forecasting framework. Given the role gov- ernments, companies and individuals play, knowledge about the drivers and linkages that determine the future will allow these players to actually shape the future themselves
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