Bekiros, Stelios; Cardani, Roberta; Paccagnini, Alessia; … - 2016
that the banking sector can play in macroeconomic activity. We present a DSGE model with financial intermediation as in …-of-sample predictive performance of the estimated DSGE model with that of standard ARs, VARs, Bayesian VARs and TVP-VARs. We find that the … steps-ahead, while the DSGE model outperforms the other specifications in forecasting inflation and the federal funds rate …