In this article we estimate a small dynamic factor model (DFM) for the short-term forecasting of Slovak GDP. The model predicts the developments of real activity in the next two quarters on the basis of monthly data, which are published earlier than GDP. The regular release of various monthly...

In this article we estimate a small dynamic factor model (DFM) for the short-term forecasting of Slovak GDP. The model predicts the developments of real activity in the next two quarters on the basis of monthly data, which are published earlier than GDP. The regular release of various monthly...

Functional Signal plus Noise (FSN) time series models are introduced for the econometric analysis of the dynamics of a large cross-section of prices in which contemporaneous observations are functionally related. A semiparametric FSN model is developed in which a smooth, cubic spline signal...

This paper presents cointegration analyses of the import and export functions of the Czech Republic in 1993-1998 by identifying the main variable factors and estimating the long-run equilibrium relationship of Czech foreign trade functions. A long-run equilibrium relationship was found in the...