CORDIS Project
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This project develops robust methods for evaluating the predictive accuracy of macroeconomic models, particularly when identification issues arise. It aims to improve forecasting practices for central banks and policy-making institutions by providing reliable statistical tests that account for parameter estimation erro…
Constructing accurate predictions on different macroeconomic variables is a key issue for any central bank and other policy making institutions.
For example, obtaining accurate inflation forecasts is important for setting interest rates.
These institutions typically rely on a set of models to construct their forecasts and the question that often arises is which of these models performs the best in terms of predictive ability.
The purpose of this project is to show that, when strong identificatio…
ERASMUS UNIVERSITEIT ROTTERDAM
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