CORDIS Project
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This project focuses on enhancing economic forecasts using adaptive econometric models that adjust to changes in the economic environment. By developing change-point models and efficient Bayesian methods, the project aims to provide reliable forecasting applications for macroeconomic and financial data.
The general objective of this project is to improve economic forecasts with evolutionary econometric models, i.e. models that adapt to structural changes in the economic environment.
They are also called change-point models.
The need for these adaptive models is obvious in the light of the current economic downturn.Economic forecasting is essential for decision making with respect to fiscal and monetary policy, public spending, and investment.
The three research objectives are theoretical and em…
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