Nowcasting with model combination

This workshop brings together recent contributions that examine the role of forecast combination in short-term macroeconomic forecasting. The admission of model and data uncertainty in the nowcasting literature has led to a number of active research programs with implications for forecasting practice at central banks, including:

• forecast combination from economic models as an effective response to model and data risk.
• how time series evidence can be combined with policymaker judgment - an approach often favoured by practitioners as a robust hedge to model dependence.
• comparing and combining forecast densities that account for model uncertainty explicitly.

Programme