{"id":118952,"date":"2024-01-22T22:15:31","date_gmt":"2024-01-22T21:15:31","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/118952\/"},"modified":"2025-10-22T21:51:12","modified_gmt":"2025-10-22T19:51:12","slug":"bayesian-averaging-of-classical-estimates-in-forecasting-macroeconomic-indicators-with-application-of-business-survey-data","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/118952\/","title":{"rendered":"Bayesian averaging of classical estimates in forecasting macroeconomic indicators with application of business survey data"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-118952","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"In this paper, we develop a methodology for forecasting key macroeconomic indicators, based on business survey data. We estimate a large set of models, using an autoregressive specification, with regressors selected from business and household survey data. Our methodology is based on the Bayesian averaging of classical estimates method. Additionally, we examine the impact of deterministic and stochastic seasonality of the business survey time series on the outcome of the forecasting process. We propose an intuitive procedure for incorporating both types of seasonality into the forecasting process. After estimating the specified models, we check the accuracy of the forecasts.","onlinedate":"2014-02-01 01:00:00","lang":"English","publication_series":"","publication_date":"20140201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"http:\/\/www.springer.com\/10663","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"41","monthly_report_pages":"53-68","monthly_report_pages_sort":"53","issue":"1","journal":"Empirica","publisher":"","invisible":false,"external":true,"embargo_date":null,"types":[83083],"research_groups":[3500],"collaboration":"","persons":[13309,13289,13291],"persons_data":"[{\"personId\":13309,\"personName\":\"Piotr Bia\u0142owolski\",\"organisationNames\":[]},{\"personId\":13289,\"personName\":\"Tomasz Kuszewski\",\"organisationNames\":[]},{\"personId\":13291,\"personName\":\"Bartosz Witkowski\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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