Forecasts with production expectations integrated into a macroeconomic model
AbstractThis paper suggests that forecasts of changes in production from production expectations can be improved by using the information contained in a reduced form macroeconomic model. The model is estimated using quarterly data for 14 OECD countries. The estimation results indicate that the forecast of changes in production from survey production expectations can be improved by embedding the macroeconomic model into the forecast equations.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (REL - Recherches Economiques de Louvain) with number 1997011.
Date of creation: 01 Mar 1997
Date of revision:
Find related papers by JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
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