Benalal, Nicholai; Diaz del Hoyo, Juan Luis; Landau, Bettina - 2004
of overall HICP (direct approach) and whether the aggregation of country forecasts improves upon the forecast of the euro …-area as a whole, considering the four largest euro area countries. The direct approach provides clearly better results than …. For the euro area HICP excluding unprocessed food and energy (HICPX), the indirect forecast outperforms the direct whereas …