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 …

equilibrium models, estimated using Bayesian techniques, can become an additional useful tool in the forecasting kit of central … banks. First, we show that the forecasting performance of such models compares well with a-theoretical vector …

’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 …

as a pseudo real time forecasting exercise, i.e. due account is taken of the pattern of available monthly variables over …