This ensures the full consideration of all information and expertise available in the Eurosystem for forecasting, in addition to aggregate information at the area-wide level. Empirical results from the forecasting literature also support the argument that disaggregated information in terms of national time series is more useful for forecasting than aggregated information (area-wide time series) in the euro area.
14 Concerning the forecast methods, various approaches are employed, and the Eurosystem pursues a suite-of-models approach. Regarding the level of aggregation, the Eurosystem employs econometric models for single euro area member countries in addition to area-wide approaches.