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March 1967

Economic Theory and Forecasting

by Michael W. Keran

The economic forecasts for 1967 have been duly recorded and only await the passage of time to see how accurate they were. This article does not attempt to add an additional forecast to those already made. Rather, it specifies some of the common underlying assumptions or theories which major groups of forecasters accept and which they implicitly or explicitly take into account in constructing a forecast.