• 1 Introduction
  • 2 Forecasting Models
  • 2.1 Factor Model
  • 2.2 New Keynesian DSGE Model
  • 3 Data and Estimation
  • 3.1 Data and Experimental Design
  • 3.2 Data Treatment and Estimation
  • 4 Forecasting Results
  • 4.1 Estimation Results of the DSGE Model
  • 4.2 Informativeness of Forecasts
  • 4.3 Various Factors and VAR Specifications
  • 4.4 Testing equal predictive ability
  • 5 Conclusion