represent nicely the two opposing forecasting philosophies. The DSGE model on the one hand has a strong theoretical economic …-horizon forecasting and structural models should be used in long-horizon forecasting. Our paper compareds both state-of-the art data …

pools, and use it to investigate the relative forecasting performance of dynamic stochastic general equilibrium (DSGE …

pools, and use it to investigate the relative forecasting performance of dynamic stochastic general equilibrium (DSGE …

best overall performance both in terms of forecasting accuracy and in matching (future) survey forecasts. …

movements of key macroeconomic variables, i.e., CPI inflation, GDP, employment, and an output gap. In particular, questions … encouraging. In a pseudo out-of-sample exercise, our approach beats relevant benchmarks for forecasting CPI inflation and an … output gap and adds information to the benchmark forecasts for GDP and employment. …