Kasai, Ndahiriwe; Naraidoo, Ruthira - Volkswirtschaftliche Fakultät, … - 2011
This paper compares forecast performance of linear and nonlinear monetary policy rules using South African data. Recursive forecasts values are computed for 1- to 12-steps ahead for the out-of-sample period 2006:01 to 2010:12. For the nonlinear models we use bootstrap method for multi-step ahead...