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

Unpaid Care Work and Regional Gender Gaps in Labor Force Participation in Colombia
Luis Armando Galvis-Aponte, Adriana Marcela Rivera-Zárate
Minimum Markup Laws and Multiproduct Pricing
Daniel Herrera-Araujo, Jorge Florez-Acosta
Assessing the Effects of Recent Provisioning Rules on Consumer Credit Allocation in Colombia
Diego Fernando Cuesta-Mora, Fredy Alejandro Gamboa-Estrada, Camilo Eduardo Sánchez-Quinto

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