This paper considers forecast combination with factor-augmented regression. In this framework, a large number of … forecasting models are available, varying by the choice of factors and the number of lags. We investigate forecast combination … multi-step-ahead mean squared forecast errors, respectively, provided that N, T —› ∞. In contrast to well-known results in …

Historians have suggested there were waves of inflation or price revolutions in the UK (and earlier England) in the 13 …th, 16th, and 18th centuries, prior to the ongoing inflation since 1914. We study retail price inflation since 1251 and … volatility. The long-horizon forecasts suggest only one inflation wave, that of the 20th century. We also use the model to …