The main goal of the article is to investigate forecasting quality of two approaches to modelling main macroeconomic … regressors. With application of tendency survey data the authors develop methodology for application of the Bayesian averaging of … accuracy not inferior to that of structural models. Additional advantage of their approach is that the forecasting procedure …

short-term forecasting models. These empirical findings have been established for different macroeconomic data sets and … specification is most effective in its forecasting performance. Furthermore, the forecast performances of the different … extended empirical out-of-sample forecasting competition for quarterly growth of gross domestic product in the euro area and …