several combinations of a large-scale DSGE structural model with standard reduced-form methods such as (B)VAR (i.e. DSGE … that: (i) the DSGE model underestimates growth of real variables due to its mean reverting properties in the context of a … with (B)VAR methods does not give rise to any relevant gain in terms of forecasting accuracy. …

We compare real-time density forecasts for the euro area using three DSGE models. The benchmark is the Smets …

-time forecasts from a richly-specified DSGE model to those from the Survey of Professional Forecasters, Bayesian VARs and VARs using … priors from a DSGE model. We show that the analyzed DSGE model is relatively successful in forecasting the US economy in the … BVARs and DSGE-VARs. Compared to the SPF, the DSGE model generates better output forecasts at longer horizons, but less …

BVAR can outperform the NAWM. - Bayesian inference ; DSGE models ; euro area ; forecasting ; open-economy macroeconomics …In this paper we review the methodology of forecasting with log-linearised DSGE models using Bayesian methods. We focus …

policy. We apply this evidence to calibrate free parameters of an otherwise estimated DSGE model in order to dampen the FG …

Equilibrium (DSGE) models in forecasting the Great Financial Crisis (GFC), focusing on the U.S. While existing models have added a … financial sector and real estate sector, they have largely overlooked housing supply. I develop an extended DSGE model that …

forecasting densities of a BVAR and a DSGE model on information about the marginal densities of future oil prices. The results … proposed algorithm, which is based on tempered importance sampling, adapts the model-based density forecasts to target …