aggregation across countries over the heterogeneous representative agents, and we derive the resulting formulas for stochastic … aggregation over countries. Our theory permits monitoring the effects of policy at the aggregate level over the euro area, while …

This paper re-examines two data issues concerning euro area money demand: aggregation of national data and measurement … be useful in forecasting exercises.F inally, the conclusions are robust for the aggregation method and the choice of …

forecasting directly aggregate variables (direct approaches) outperform methods based on the aggregation of country …

Beyer, Doornik and Hendry (2000, 2001) show analytically that three out of four aggregation methods yield problematic … the choice of aggregation method. - Aggregation ; Flexible weights ; Eurowide money demand ; Cointegration …

The issue of forecast aggregation is to determine whether it is better to forecast a series directly or instead … results, it is generally accepted that forecast aggregation is an empirical issue. Empirical results in the literature often … go unexplained. This leaves forecasters in the dark when confronted with the option of forecast aggregation. We take our …