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I never understand why 'economist makes forecast' is ever a headline. Whether the economist in question is from the International Monetary Fund, a City forecasting group or the Treasury - a forecast is still not news.

If you have to forecast, forecast often.

Economists have allowed themselves to walk into a trap where we say we can forecast, but no serious economist thinks we can.

The best way to predict the future is to change it.

It is indeed true that the stock market can forecast the business cycle.

The most reliable way to forecast the future is to try to understand the present.

You don't want to influence the same system you are trying to forecast.

Economic forecasting has actually got pretty good over the years, though admittedly, we don't always get it right.

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.

I think the association of economics with forecasting is unfortunate and is down to the fact that one great way to get an investment bank's name on business television is to hire a guy called a Chief Economist who will go and prognosticate.