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The Great Recession and the subsequent period of subdued GDP growth in most advanced economies have highlighted the need for macroeconomic forecasters to account for sudden and deep recessions, periods of higher macroeconomic volatility, and fluctuations in trend GDP growth. In this paper, we...
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Uncertainty is inherent to forecasting and assessing the uncertainty surrounding a point forecast is as important as … the forecast itself. Following Cornec (2010), a method to assess the uncertainty around the indicator models used at OECD … to forecast GDP growth of the six largest member countries is developed, using quantile regressions to construct a …
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forecast methodology aims at addressing these challenges. The algorithm is said to be “adaptive” insofar as it adapts to the …
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the bootstrapping technique, allow the ex ante probability of, for example, a negative GDP growth forecast for the current …
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, there is little evidence that an underestimate of the impact of fiscal consolidation contributed significantly to forecast …
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