Ouija Board Forecasts: Edward Lazear

The video discusses the speaker's background and affiliations, followed by an analysis of GDP forecast accuracy using historical data. An anecdote about Ouija boards is shared, leading into a discussion on GDP forecasting methods and the importance of business insights in economic forecasting.

What is the significance of the Council of Economic Advisers mentioned in the text?

What is the relationship between GDP growth forecasts and the margin of error mentioned in the text?

What does the speaker imply about the accuracy of government forecasts compared to historical data?

How do econometric models contribute to GDP forecasting according to the text?

What role does talking to business people play in economic forecasting as discussed in the text?