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In this paper we review the methodology of forecasting with log-linearised DSGE models using Bayesian methods. We focus … matrix of h-step ahead forecasts. In the empirical analysis, we examine the forecasting performance of the New Area … scope for improving the NAWM’s forecasting performance. For example, the model is not able to explain the moderation in wage …
Persistent link: https://www.econbiz.de/10008516222
distribution. As an empirical illustration, we use euro area data and compare the forecasting performance of the New Area …
Persistent link: https://www.econbiz.de/10010686802
’s forecasting performance relative to a number of benchmarks, including a Bayesian VAR. We finally consider several applications to … illustrate the potential contributions the NAWM can make to forecasting and policy analysis. JEL Classification: C11, C32, E32, E …
Persistent link: https://www.econbiz.de/10005222279