forecasting model necessary in the MNB. The model represents a small open economy. It is based on the DSGE philosophy but it … deviates from it at several points. The new features of the model, compared to previous forecasting models of the MNB, are that … analysis, and the model fits into the MNB’s forecasting framework successfully. …

DSGE models may be misspecified in many dimensions, which can affect their forecasting performance. To correct for …

inflation forecasting that does not specify or estimate any predictive regressions, but rather starts by estimating a …

) models affects their forecasting performance. We apply this analysis to medium-scale DSGE models with and without financial … with financial frictions outperform in forecasting inflation but not the GDP growth rate. …

story-telling and policy analysis were in the forefront of applications since its inception, the forecasting perspective of … models are inferior in ex-ante forecasting a crisis. Surprisingly however, it turned out that not all but those models which … only detect the turning point of the Austrian business cycle early in 2008 but they also succeeded in forecasting the …

higher frequency auxiliary data only for forecasting (see Giannone, Monti and Reichlin (2016)). The second method transforms … our method substantially decreases forecasting errors for recessions, but casting the model in a monthly frequency …