We show that adding countries as a panel dimension to macroeconomic data can statistically significantly improve the generalization ability of structural and reduced-form models, as well as allow machine learning methods to outperform these and other macroeconomic forecasting models. Using GDP...

In this article we are going to review the modelling of NMDs via replicating portfolios due to the revived interest in NMDs in the context of the interest rate risk of the banking book (IRRBB). The main goal is to provide a self contained presentation of the replicating portfolio approach from...

This paper employs MIMIC, an applied general equilibrium model of the Dutch economy, to explore various tax cuts aimed at combating unemployment and raising labor supply. MIMIC combines modern labor-market theories, a firm empirical foundation detailed description of Dutch labor-market...

This paper constructs a dynamic macroeconomic model with less- than-perfect price flexibility which has a real side consistent with Real Business Cycle Theory, augmented by investment adjustment costs, increasing returns to scale, and a new, flexible formalization of imperfect competition. A new...

There has been much recent discussion about the ultimate sources of macroeconomic variability. A number of authors attribute most of this variability to only a few sources, sometimes only one. Although there may be only a few important sources, this is far from obvious, since economies seem...

Senegal is a developing country in West Africa whose current economic crisis is intimately linked to the COVID-19 pandemic. Necessary containment measures brought with them a significant economic cost, and de-confinement was designed to obtain a quick economic recovery. At the same time,...

A forecast produced by an econometric model is a weighted aggregate of predetermined variables in the model. In many models the number of predetermined variables used is very large, often exceeding the number of observations. A method is proposed in this paper for testing an econometric model as...

All wireless communication depends on effective and efficient access to the electromagnetic spectrum. Spectrum is a critical national resource that enables both national and economic security. Demand for spectrum is growing, while its supply is practically limited.A Macroeconomic Model of...

We propose a measure of predictability based on the ratio of the expected loss of a short-run forecast to the expected loss of a long-run forecast. This predictability measure can be tailored to the forecast horizons of interest, and it allows for general loss functions, univariate or...