Central Banks Notes

The ECB's BEAR Toolbox

Version 5.0 of the Bayesian Estimation, Analysis and Regression (BEAR) toolbox for performing vector autoregression (VAR) analysis for forecasting and policy analysis, has been released by Alistair Dieppe (ECB) and Björn van Roye (Bloomberg).

BEAR provides a tool for econometric research and economic forecasting. Based on MATLAB®, it provides a user-friendly graphical interface for less technical users, and contains applications such as: FAVARs, stochastic volatility, time-varying parameters, mixed-frequency, sign and magnitude restrictions, conditional forecasts, Bayesian forecast evaluation measures, and Bayesian panel VARs using different prior distributions.

The ECB's Bear Toolbox