Clark and Ravazzolo 2012-Focasting performance of AR models

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ivory4
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Joined: Mon Aug 24, 2009 12:16 pm

Clark and Ravazzolo 2012-Focasting performance of AR models

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FRB Cleveland's working paper website just post this paper by Todd Clark and Francesco Ravazzolo "The Macroeconomic Forecasting Performance of Autoregressive Models with Alternative Specifications of Time-Varying Volatility"

It compares AR models with various time-varying volatility specification including
stochastic volatility (both with constant and time-varying autoregressive coefficients),
stochastic volatility following a stationary AR process,
stochastic volatility coupled with fat tails,
GARCH,
and mixture-of-innovation models.

Is the replication available here especially that he used to post VAR-SV model here
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