{
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    "abstract": [
        "We survey approaches to macroeconomic forecasting during the COVID-19 pandemic. Due to the unprecedented nature of the episode, there was greater dependence on information outside the econometric model, captured through either adjustments to the model or additional data. The transparency and flexibility of assumptions were especially important for interpreting real-time forecasts and updating forecasts as new data were observed. With data available at the time of writing, we show how various assumptions were violated and how these systematically biased forecasts."
    ],
    "language": [
        "eng"
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    "titleInfo": [
        {
            "title": "Forecasting in the Absence of Precedent",
            "titlePartNumber": "Working Paper 21-10"
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    "identifier": [
        {
            "$": "https:\/\/doi.org\/10.21144\/wp21-10",
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    "originInfo": {
        "issuance": "multipart",
        "sortDate": "2021-06-16",
        "dateIssued": "June 16, 2021"
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        "recordCreationDate": "2021-06-21 21:23:51",
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    "typeOfResource": "text",
    "physicalDescription": {
        "form": "electronic",
        "extent": "24 pages",
        "digitalOrigin": "born digital",
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    "location": {
        "url": [
            "https:\/\/fraser.stlouisfed.org\/title\/working-papers-federal-reserve-bank-richmond-3942\/forecasting-absence-precedent-604222"
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        "pdfUrl": [
            "https:\/\/fraser.stlouisfed.org\/docs\/historical\/frbrich\/wp\/frbrich_wp21-10.pdf"
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        "textUrl": [
            "https:\/\/fraser.stlouisfed.org\/files\/text\/historical\/frbrich\/wp\/frbrich_wp21-10.txt"
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            "titleInfo": [
                {
                    "title": "Working Papers (Federal Reserve Bank of Richmond)"
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                    "namePart": [
                        "Federal Reserve Bank of Richmond"
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    "accessCondition": "For more information on rights relating to this item, please see: https:\/\/fraser.stlouisfed.org\/title\/working-papers-federal-reserve-bank-richmond-3942\/forecasting-absence-precedent-604222"
}