Elbourne, Adam; Kranendonk, Henk; Luginbuhl, Rob; Smid, Bert - Centraal Planbureau (CPB), Government of the Netherlands - 2008
We compare the accuracy of our published GDP growth forecasts from our large macro model, SAFFIER, to those produced by VAR based models using both classical and Bayesian estimation techniques.
We employ a data driven methodology for selecting variables to include in our VAR models and we find...