Del Negro, Marco; Hasegawa, Raiden B.; Schorfheide, Frank - 2014
pools, and use it to investigate the relative forecasting performance of dynamic stochastic general equilibrium (DSGE …) models, with and without financial frictions, for output growth and inflation in the period 1992 to 2011. We find strong … react in a timely fashion to changes in the environment, leading to real-time forecast improvements relative to other …