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Structural Models in Real Time
Author:
Kevin Clinton null

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Marianne Johnson null

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Mr. Jaromir Benes
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Mr. Douglas Laxton
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Mr. Troy D Matheson
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Series:
IMF Working Papers
Volume/Issue:
Volume 2010: Issue 056
Language:
English
Publication Date:
01 Mar 2010
DOI:
https://doi.org/10.5089/9781451963625.001
ISBN:
9781451963625
ISSN:
1018-5941
Pages:
35
Keywords:
WP
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper outlines a simple approach for incorporating extraneous predictions into structural models. The method allows the forecaster to combine predictions derived from any source in a way that is consistent with the underlying structure of the model. The method is flexible enough that predictions can be up-weighted or down-weighted on a case-by-case basis. We illustrate the approach using a small quarterly structural and real-time data for the United States.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund