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) forecast performance are small relative to the large discrepancies between forecasts and actual outcomes. Interestingly, the …
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Greater data availability has been coupled with developments in statistical theory and economic theory to allow more elaborate and complicated models to be entertained. These include factor models, DSGE models, restricted vector autoregressions, and non-linear models.
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the two approaches. In almost all cases, differences in median (across countries) forecast performance are small relative …
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