. Nevertheless, their forecasting properties are still barely explored. We fill this gap by comparing the quality of real … priors from a DSGE model. We show that the analyzed DSGE model is relatively successful in forecasting the US economy in the … accurate short-term forecasts for interest rates. Conditional on experts' now casts, however, the forecasting power of the DSGE …

Forecasting the world economy is a di¢ cult task given the complex interre-lationships within and across countries …, …rst, at ranking various forecasting methods in terms offorecast accuracy and, second, at checking whether methods … forecasting di-rectly aggregate variables (direct approaches) outperform methods based onthe aggregation of country …

This paper analyses the real-time forecasting performance of the New Keynesian DSGE model of Galí, Smets, and Wouters … professional forecasters improve the forecasting performance. We consider two approaches for conditioning on such information …

The term now-casting is a contraction for now and forecasting and has been used for a long-time in meteorology and …., Handbook of Economic Forecasting, Volume 2, Elsevier-North Holland). JEL Classification: E32, E37, C01, C33, C53 …