Economics Explored

Challenges of Economic Forecasting in the COVID-19 Pandemic with Prof. Rodney Strachan

Episode Summary

Conversation regarding the challenges of economic forecasting in the COVID-19 pandemic with Professor Rodney Strachan from the University of Queensland, Brisbane, Australia.

Episode Notes

Economics Explained host Gene Tunny speaks with Professor Rodney Strachan regarding his recent video on the Challenges of Forecasting in the COVID-19 Pandemic.

Professor Rodney Strachan is Professor of Econometrics at the University of Queensland in Brisbane, Australia. Rodney received his PhD from Monash University in 2000. His research focuses on Bayesian analysis, econometric theory, and time series analysis. Rodney came to UQ from the Australian National University where he was a professor and the deputy head of the Research School of Economics.

Links relevant to this episode include:

Koop and Potter’s 2007 paper A Flexible Approach to Parametric Inference in Nonlinear Time Series Models (highly technical)

Autoregressive (AR) model

Dummy variables

There were a few other technical concepts mentioned in this episode which I’ll aim to cover in future episodes.