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Bayesian combination for inflation forecasts : the effects of a prior based on central banks' estimates

Luis Fernando
Melo-Velandia
Rubén Albeiro
Loaiza-Maya
Mauricio
Villamizar-Villegas
Sábado, 1 Noviembre 2014

Typically, central banks use a variety of individual models (or a combination of models) when forecasting inflation rates. Most of these require excessive amounts of data, time, and computational power; all of which are scarce when monetary authorities me