Abstract:We compare models for forecasting growth and inflation in the enlarged euro area. Forecasts are built from univariate autoregressive and single equation models. Aggregate forecasts are constructed by both employing aggregate variables and by aggregating country-specific forecasts. Using financial variables for country-specific forecasts tends to add little to the predictive ability of a simple AR model. However, they can help to predict EU aggregates. Furthermore, forecasts from pooling individual country mode… Show more
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