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We compare direct forecasts of HICP and HICP excluding energy and food in the euro area and five member countries to aggregated forecasts of their main components from large Bayesian VARs with a shared set of predictors. We focus on conditional point and density forecasts, in line with...
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Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic …, time-invariant aggregation weights. In this study a framework for nonlinear contemporaneous aggregation with possibly …
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particular reference to the issues of substitution bias and choice of aggregation dimensions. The potential costs and benefits of ….An Australian scanner data set is used to estimate substitution bias for six different aggregation methods and for fixed base and … sensitive to both the method of aggregation used and whether direct or chained indexes were used. The ILO (2004) recommends the …
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Geldnachfragefunktionen auf nationaler Ebene verglichen. Dabei bildet die Untersuchung der Auswirkungen von Aggregation einen Schwerpunkt. Mit … einem europäischen Divisia-Index wird außerdem ein mikroökonomisch fundierter¤ Ansatz für die Aggregation verschiedener …
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