In this study, we investigate forecasting performance of various univariate and multivariate models in predicting … forecasting ability of the different models with that of naïve ones. We find that for all forecast horizons simple naïve models … have equal forecasting ability with relatively sophisticated models which allow for richer economic dynamics. To check …

A system of econometric models designed for forecasting target monetary indicators as well as conducting monetary …

inflation forecasting exercises to Cape Verde's economy as well as when thinking about setting/defining exchange rate regimes …

observable inflation to change over time. Out-of-sample forecasting exercises are used to test the model validity. Design … the Pesaran and Timmermann test. Findings – The proposed model fits the data quite well and has good forecasting …