Herwartz, Helmut - In: Empirical Economics 24 (1999) 2, pp. 271-301
performance of competing models in forecasting is used to assess the adequacy of a specific model. To account for nonstationarity … considerably but in most cases under study this model class involves a loss in ex-ante forecasting relative to nonperiodic models … and Swedish data forecasting exercises yield a unique recommendation of unit roots in consumption and income data which is …