A Quote by Clive Granger

A potentially useful property of forecasts based on cointegration is that when extended some way ahead, the forecasts of the two series will form a constant ratio, as is expected by some asymptotic economic theory.

Clive Granger

Quote Topics

Based Constant Economic Economic Theory Expected Extended Forecasts Form Potentially Property Ratio Series Some Theory Two Useful Way Will

Quote Author

Clive Granger
British - Economist
September 4, 1934 - May 27, 2009

Experts kill me. Economic experts, that is. Corporations, foundations, publications and governments pay them by the bucketful, and they fill buckets with forecasts that change more frequently than white-collar, workers do shirts. What Lies Ahead is the usual title. What Lies would often be more appropriate. If women's hemlines changed as rapidly as an economist's forecasts, the fashion people and the textile industry would be more profitable than any other. In fact, if all the country's economists were laid end to end, they still wouldn't reach a conclusion.

Malcolm Forbes

It is almost possible to predict one or two days in advance, within a rather broad range of probability, what the weather is going to be; it is even thought that it will not be impossible to publish daily forecasts, which would be very useful to soci.

Antoine Lavoisier

Forecasts vary in horizon, from a few seconds up to a few days in financial markets, compared to from one to several months for macro variables. We have to provide uncertainty intervals around the central forecasts to indicate the extent to which we are unclear about the future.

Clive Granger

All economic forecasts are subject to considerable uncertainty. There is always a wide range of plausible outcomes for important economic variables, including the federal funds rate.

Jerome Powell

Some of what these pamphlets [of astrological forecasts] say will turn out to be true, but most of it time and experience will expose as empty and worthless. The latter part will be forgotten literally: written on the winds while the former will be carefully entered in people's memories, as is usual with the crowd.

Johannes Kepler

As more and more Americans spend their earliest hours scrolling through news alerts and weather forecasts on their smartphones and tablets, morning shows have to adapt, too. And their biggest competitive advantage may be that, unlike an iPhone, they offer some form of companionship.

Brian Stelter

Financial security is a constant in my life. I allow my income to constantly expand, no matter what the newspapers and economists say. I move beyond my present income, and I go beyond the economic forecasts. I do not listen to people out there telling me how far I can go or what I can do.

Louise Hay

Of course, economic forecasts must be revised when new information arrives and are thus necessarily provisional.

Ben Bernanke

In order to achieve a true understanding of string theory, some new idea will be required, and most likely, some break with the concepts on which we've traditionally based physical theory.

David Gross

Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum opus Human Action appeared, where is lays out his case in a more popular form. The money sentences are “Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.

Ludwig von Mises

The IEA forecasts that production from oilfields, which have started production up to 2011, will nearly drop two-thirds by 2035.

Peter Voser

Heatstroke is an important and useful addition to the library on climate change, bringing insights from deep-time ecological research to help illuminate the dire forecasts of which we're already so aware.

David Quammen

Unlike physics, for example, such parts of the bare bones of economic theory as are expressible in mathematical form are extremely easy compared with the economic interpretation of the complex and incompletely known facts of experience, and lead one a very little way towards establishing useful results.

John Maynard Keynes

We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%.

Warren Buffett

During the early 1960s, I decided to supplement research support for quantitative economic studies at Pennsylvania by selling econometric forecasts to private and public sector buyers.