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This paper shows entropic tilting to be a flexible and powerful tool for combining medium-term forecasts from BVARs with short-term forecasts from other sources (nowcasts from either surveys or other models). Tilting systematically improves the accuracy of both point and density forecasts, and...
Persistent link: https://www.econbiz.de/10011301673
uncertainty. We demonstrate this argument in macroeconomic and financial forecasting case studies. …
Persistent link: https://www.econbiz.de/10011712807