Structural Models in Real Time
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Summary:
This paper outlines a simple approach for incorporating extraneous predictions into structural models. The method allows the forecaster to combine predictions derived from any source in a way that is consistent with the underlying structure of the model. The method is flexible enough that predictions can be up-weighted or down-weighted on a case-by-case basis. We illustrate the approach using a small quarterly structural and real-time data for the United States.
Series:
Working Paper No. 2010/056
Subject:
Consumer price indexes Economic forecasting Inflation Output gap Unemployment rate
English
Publication Date:
March 1, 2010
ISBN/ISSN:
9781451963625/1018-5941
Stock No:
WPIEA2010056
Pages:
35
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