Adolfson, Malin; Lindé, Jesper; Villani, Mattias - 2006 - Revised
forecasting models such as vector autoregressions (VAR) and vector error correction models (VECM), estimated both by maximum … likelihood and two different Bayesian approaches, and traditional benchmark models, e.g. the random walk. The accuracy of point … with more empirical models and thus that the tension between rigor and fit in older generations of DSGE models is no longer …