Carriero, Andrea; Kapetanios, George; Marcellino, … - 2008
-a-vis the US Dollar. Since exchange rates tend to co-move, the use of a large set of them can contain useful information for …Models based on economic theory have serious problems at forecasting exchange rates better than simple univariate … this paper, we propose to forecast exchange rates with a large Bayesian VAR (BVAR), using a panel of 33 exchange rates vis …