Professional forecasters : how to understand and exploit them through a DSGE model

Number: 
664
Published: 
Classification JEL: 
C18, C51, C82, E17
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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This paper derives a link between the forecasts of professional forecasters and a DSGE model. I show that the forecasts of a professional forecaster can be incorporated to the state space representation of the model by allowing the measurement error of th