Quarterly liverpool model with current partial information: An exercise in forecasting

✍ Scribed by K. G. P. Matthews; A. P. L. Minford; S. C. Blackman

• Publisher: John Wiley and Sons
• Year: 1994
• Tongue: English
• Weight: 755 KB
• Volume: 13
• Category: Article
• ISSN: 0277-6693
• DOI: 10.1002/for.3980130603

✦ Synopsis

This paper applies an algorithm for the solution of partial current information in rational expectation models to the quarterly Liverpool macroeconomic model of the U.K. The algorithm is shown to produce marginally superior results in forecasts both in ex-post and ex-ante forecasts and can be viewed as an additional tool for the forecaster's kit-bag. KEY WORDS Current partial information Rational expectations Liverpool macroeconomic model ' See, for instance, Mellis (1988) on the Treasury model, Budd el al. (1984) on the LBS model, and Wallis et nl. (1988)

for a description of the NlESR model.