We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best...

We consider combinations of subjective survey forecasts and model-based forecasts from linear and non-linear univariate specifications as well as multivariate factor-augmented models. Empirical results suggest that a simple equal-weighted average of survey forecasts outperform the best...

In this essay six societal challenges and research opportunities that confront 21st century Bayesian econometricians are briefly discussed using an important feature of modern Bayesian econometrics: conditional probabilities of a wide range of economic events of interest can be evaluated by...