Suppose I want to forecast macroeconomic variables, like inflation, GDP, output gap, and so on.
I might have a simple OLS model for each of variables, estimated separately.
Then I want to use the estimated equation to forecast for the next quarters.
Is there a package that help solving such a model?
One nice example of such a model is the RBA's macroeconomic model. There are many equations, couple of identities and some exogenous variables. They use EViews to estimate the model. I wish I could use R, instead of EViews. Does anyone have any advice for it? Any example or reference that could help me?
The link below are the RBA's model.