Pesaran, M. Hashem; Schuermann, Til; Smith, L. Vanessa - CESifo - 2008
ahead forecasts of real output, inflation, real equity prices, exchange rates and interest rates over the period 2004Q1 …-2005Q4. Forecasts are obtained for 134 variables from 26 regions made up of 33 countries covering about 90% of world output …. The forecasts are compared to typical benchmarks: univariate autoregressive and random walk models. Building on the …