type="main" xml:lang="en" <title type="main">Abstract</title> <p>Combined density nowcasts for quarterly Euro-area GDP growth are produced based on the real-time performance of component models. Components are distinguished by their use of ‘hard’ and ‘soft’, aggregate and disaggregate, indicators. We consider the...</p>

This paper proposes and analyses the Kullback-Leibler information criterion (KLIC) as a unified statistical tool to evaluate, compare and combine density forecasts. Use of the KLIC is particularly attractive, as well as operationally convenient, given its equivalence with the widely used...