Bayesian model averaging: an application to forecast inflation in Colombia

Borradores de Economia
Number: 
604
Published: 
Classification JEL: 
C11, C15, C52, C53
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
Download document

The most recent

Reading Between the Lines: A Quantitative Analysis of Colombia’s Central Bank Minutes
Pedro Pablo Calderon-Camacho, Celina Gaitán-Maldonado, Nicolle Valentina Herrera-Pinto, Mario A. Ramos-Veloza
Inflation Drivers in Colombia: A Hemisphere Neural Network Approach
Franky Juliano Galeano-Ramírez, Nicolás Martínez-Cortés, Hernán Dario Perdomo-Sánchez, Marlon Salazar
Tax reforms and the labor market in an emerging market economy
Catalina Granda-Carvajal, Jesús Enrique Morales-Piñero

An application of Bayesian Model Averaging, BMA, is implemented to construct combined forecasts for the colombian inflation for the short and medium run. A model selection algorithm is applied over a set of linear models with a large dataset of potencial