We propose simulation-based forecasting methods for the noncausal vector autoregressive model proposed by Lanne and … Saikkonen (2012). Simulation or numerical methods are required because the prediction problem is generally nonlinear and … simulation procedures. Simulation experiments demonstrate that gains in forecasting accuracy are achieved by using the correct …

This publication consists of ten separate studies on payment and settlement systems employing simulation techniques …

This publication consists of eleven separate studies on payment and settlement systems conducted using simulation …

This publication consists of nine separate studies on payment and settlement systems conducted using simulation …

simulation techniques. The studies have been presented at the simulator seminars arranged by the Bank of Finland during the years …

stochastic simulation. Stochastic simulations in this paper involve both endogenous and exogenous variables. These simulations …

forecasting properties of the model by means of stochastic simulation involving both the endogenous and exogenous variables of the … simulation. The important issue in these simulations is the stability of the model: how simulated values depend on the estimation …

problem in the simulation model changes these results: the ex post yield differential is now correlated with the real exchange … rate and the output gap. <p> In the empirical part of the paper we demonstrate the applicability of our simulation results …

models of expectations formation that rely on econometric learning. Some apparently natural policy rules turn out to imply … expectational instability of private agents’ learning. We use the standard New Keynesian model to illustrate this problem and survey … learning. We then consider some practical concerns such as measurement errors in private expectations, observability of …

by growth expectations. Adaptive learning dynamics determine the country-specific short-run transition paths. The …