Minford, Patrick; Xu, Yongdeng; Zhou, Peng - C.E.P.R. Discussion Papers - 2014
Out-of-sample forecasting tests of DSGE models against time-series benchmarks such as an unrestricted VAR are … improve forecasts from an unrestricted VAR. In testing forecasting capacity they also have quite weak power, particularly on … improve on VAR forecasts. …
