Forecasts with production expectations integrated into a macroeconomic model
This 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.
|Date of creation:||01 Mar 1997|
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