We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … specifically consider information management in the form of acquisition of new information or disclosure of existing information …

the actual degree of implementation of ongoing plans. We formulate and estimate empirical models for a number of EU … about the implementation of plans (e.g. at the beginning of a fiscal year). In addition, our models are instrumental to …

We address some of the key questions that arise in forecasting the price of crude oil. What do applied forecasters need … in forecasting the price of oil? How useful are survey forecasts? How does one evaluate the sensitivity of a baseline oil …

We propose a new approach to forecasting the term structure of interest rates, which allows to efficiently extract the … optimal amount of shrinkage towards univariate AR models. Focusing on the U.S., we provide an extensive study on the … forecasting performance of our proposed model relative to most of the existing alternative specifications. While most of the …

-correction, cointegration and dynamic factor models, and has several conceptual advantages over standard ECM and FAVAR models. In particular, it … latter's specification in differences. In this paper we examine the forecasting performance of the FECM by means of an … generally offers a higher forecasting precision and in general marks a very useful step forward for forecasting with large …

, all the competing models: fixed coefficients VARs, Time-Varying ARs and the naïve random walk model. These results are …

Several papers that make forecasts about the long-term impact of the current financial crisis rely on models in which … there is only one type of financial crisis. These models tend to predict that the current crisis will have long lasting …-type-shock" models to correctly forecast the recovery from past economic downturns. It is shown that these models often overestimate the …

We defend the forecasting performance of the FOMC from the recent criticism of Christina and David Romer. Our argument … FOMC forecasts and forecasts published in the Greenbook by the staff of the Federal Reserve System. …

The paper addresses the issue of forecasting a large set of variables using multivariate models. In particular, we … propose three alternative reduced rank forecasting models and compare their predictive performance for US time series with the … most promising existing alternatives, namely, factor models, large scale Bayesian VARs, and multivariate boosting …