-of-sample forecasting performance. Differences across countries are seemingly linked to market liquidity. The paper further finds that the …

The post-crisis environment has posed important challenges to standard forecasting models. In this paper, we exploit …-VAR and Augmented-(B)VARDSGE methods) and assess their use for forecasting the Spanish economy. Our empirical findings suggest … with (B)VAR methods does not give rise to any relevant gain in terms of forecasting accuracy. …

equilibrium (DSGE) models, estimated using Bayesian techniques, can become an additional useful tool in the forecasting kit of … central banks. First, we show that the forecasting performance of such models compares well with a-theoretical vector …