{"product_id":"modern-forecasting-models-in-action-improving-macroeconomic-analyses-at-central-banks-9781249560371","title":"Modern Forecasting Models in Action: Improving Macroeconomic Analyses at Central Banks","description":"There are many indications that formal methods are not used to their full potential by central banks today. In this paper, using data from Sweden, we demonstrate how BVAR and DSGE models can be used to shed light on questions that policymakers deal with in practice. We compare the forecast performance of BVAR and DSGE models with the Riksbank's official, more subjective forecasts, both in terms of actual forecasts and root mean-squared errors. We also discuss how to combine model and judgment-based forecasts, and show that the combined forecast performs well out of sample. In addition, we show the advantages of structural analysis and use the models for interpreting the recent development of the inflation rate through historical decompositions. Last, we discuss the monetary transmission mechanism in the models by comparing impulse-response functions.\"\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Malin Adolfson,Jesper Lind,Jesper Linde\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Bibliogov\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/27\/2012\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 38\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.19lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.69h x 7.44w x 0.08d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9781249560371\u003cp\u003e\u003ci\u003eThis title is not returnable\u003c\/i\u003e\u003cbr\u003e\u003c\/p\u003e","brand":"Bibliogov","offers":[{"title":"Paperback","offer_id":45465235292275,"sku":"9781249560371","price":20.95,"currency_code":"EUR","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/files\/img_99bd3d14-42d5-472a-b06b-3006d488672e.jpg?v=1788955556","url":"https:\/\/bookstorenmore.com\/en-de\/products\/modern-forecasting-models-in-action-improving-macroeconomic-analyses-at-central-banks-9781249560371","provider":"Bookstore N More","version":"1.0","type":"link"}