Structural Models in Real Time

Kevin Clinton, Marianne Johnson, Jaromir Benes, Douglas Laxton and Troy Matheson ()

No 2010/056, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP (search for similar items in EconPapers)
Pages: 35
Date: 2010-03-01
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Citations: View citations in EconPapers (5)

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