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In this paper a new method of constructing the leading economic index is presented. Its main advantage is the ability to distinguish domestic and foreign factors influencing the growth of economy and it is performed via dynamic hierarchical factor modelling. An application is carried out with...
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policy analysis and forecasting. NEMO has been used to identify the sources of business cycle fluctuations in Norway, to … been re-calibrated and re-estimated to reflect economic conditions since the introduction of inflation targeting in 2001 … historical shock and forecast-error-variance decompositions, and assessing its forecasting performance against a suite of …
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study compares the predictive content of traditional financial variables and foreign economic activity for forecasting GDP … forecasts.The out-of-sample forecasting results suggest that foreign GDP growth contains substantial predictive content in small …
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impulse responses and variance decompositions, a DSGE-VAR to assess misspecifications, and results of forecasting experiments …. The model is one of the tools used for policy analysis and forecasting at the Swiss National Bank. …
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towards inflation targeting in monetary policy and an unprecedented surge in labour supply due to higher immigration rates. We …-bargaining pattern, has been changed by labour immigration or by inflation targeting monetary policy. An explanation of why we do not … arbitration system itself has syncronized the inflation expectations of the social partners. In that analysis, inflation targeting …
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