14 Quotes by Clive Granger

A teacher told my mother that I would never become successful, which illustrates the difficulty of long-run forecasting on inadequate data.

As far as I could tell, I was the first person anywhere in my family tree to go to university.

I preferred to use mathematics in some practical fashion and thought that meteorology sounded promising.

I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics.

I wonder if economics has less basic core material than is necessary for fields such as mathematics, physics, or chemistry, say.

Rob Engle and I are concerned with extracting useful implications from economic data, and so the properties of the data are of particular importance.

There are many types of economic data, but the type considered by Rob Engle and myself is know as time series.

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.

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.