Economics, Econometrics and Finance
6 years ago

New forecasting method predicts Czech Republic's GDP growth with precision!

Acta academica karviniensia
ECONOMETRIC MODELS AND THEIR ABILITY TO PREDICT GDP GROWTH OF THE CZECH REPUBLIC
Milan Bouda

Paper Summary

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The article predicts GDP growth in the Czech Republic using different economic models. They tested methods like Auto Regression, Vector Auto Regression, Bayesian Vector Auto Regression, and DSGE models. The DSGE model performed the best in predicting GDP growth. This model considers factors like household and firm behavior, making it more accurate than other methods tested.