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In order to provide medium run forecasts of headline and core HICP inflation for the euro area, we assess the usefulness of dynamic factor models. We use Stock and Watson's (1999) out-of-sample methodology for models estimated over the 1988:1-2002:3 period, with balanced and unbalanced panels....
Persistent link: https://www.econbiz.de/10005056518
the US. Estimation is performed using the GMM technique as well as the ML approach. We examine the sensitivity of the …
Persistent link: https://www.econbiz.de/10005036191