Comparing the DSGE model with the factor model : an out-of-sample forecasting experiment /

In this paper, we put DSGE forecasts in competition with factor forecasts. We focus on these two models since they represent nicely the two opposing forecasting philosophies. The DSGE model on the one hand has a strong theoretical economic background; the factor model on the other hand is mainly dat...

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Bibliographic Details
Main Author: Wang, Mu-Chun
Format: Book
Language:English
Published: Frankfurt am Main : Deutsche Bundesbank, 2008
Series:Discussion paper (Deutsche Bundesbank). Series 1: economic studies no. 04/2008
Subjects:
Online Access:http://econstor.eu/bitstream/10419/19716/1/200804dkp.pdf