Structural Models in Real Time |
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| Author:
| Clinton, Kevin
Johnson, Marianne
Benes, Jaromir |
| Series title: | IMF Working Papers |
| ISBN: | 978-1-4519-6362-5 |
| Publication Date: | Mar 2010 |
| Publisher: | International Monetary Fund
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| Book Format: | Paperback |
| List Price: | USD $20.00 |
Book Description:
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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.
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.