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series forecasting models for economic variables. In these models, the reduction of the predictors and the modeling and … forecasting of the response y are carried out in two separate and independent phases. We introduce a potentially more attractive … of widely used macroeconomic series data with one or two sufficient reductions delivering similar forecasting performance …
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There has been increased interest in the use of "big data" when it comes to forecasting macroeconomic time series such … as private consumption or unemployment. However, applications on forecasting GDP are rather rare. In this paper we … incorporate Google search data into a Bridge Equation Model, a version of which usually belongs to the suite of forecasting models …
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mixed frequency datasets with ragged edges in a forecasting context. The resulting method, labeled MF-3PRF, is very simple … samle performance in Monte Carlo experiments, and empirical applications to GDP growth nowcasting and forecasting for the …
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