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

Borradores de Economia
Number: 
853
Published: 
Classification JEL: 
C22, C53, C11, E31
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
Download document

The most recent

Global risk transmission to local financial conditions and the participation of foreign investors in Emerging Market Economies’ sovereign bond markets: The case of Colombia
Oscar Botero-Ramírez, Andrés Murcia, Hernando Vargas-Herrera
Fertility in Colombia: Recent Trends and Socioeconomic Determinants.
Juliana Jaramillo-Echeverri, Adriana Sofía Rodríguez
Spatial Mobility, Economic Opportunity, and Crime
Gaurav Khanna, Carlos Alberto Medina-Durango, Anant Nyshadham, Daniel Ramos-Menchelli, Jorge Andrés Tamayo-Castaño, Audrey Tiew

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