**All empirical procedures, main programs and results are found in the "DMtest" folder.**

The procedures and programs below are used to generate the output in Table 5. Always run the Procedure File before running the corresponding Main File. So for instance, run "PriceProcsCPI.g" before running "MainCodeV2PDmCPI". In the Output File, the DM t-stat is the first number and the MSFE is the second number.
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The procedures and programs below are used to generate output in Panel A of Table 5.

Procdure File: PriceProcsCPI.g
Main File: MainCodeV2PDmCPI
Output File: Results01/PriceResCPIV201.txt

The variable being forecast in the Main File must correspond to the excluded variable in lines 645,724,823,837,838,962,976,977 in the Procedure File.

The key for interpreting the output is as follows:
Factor: Model 1
AR: Model 2
RW: Model 3
Proxy_A(j): Model 5
Proxy_M(j): Model 7
ExAnte_A(j): Model 8
ExAnte_M(j): Model 10
ExAnte_A(j) ARv1: Model 12
ExAnte_M(j) ARv1: Model 14

The procedures and programs below are used to generate output in Panel A of Table 5.

Procdure File: PriceProcsCPI2.g
Main File: MainCodeV2PDmCPI2
Output File: Results03/PriceResCPI2V201.txt

The variable being forecast in the Main File must correspond to the excluded variable in lines 628,702,798,813,814,910,925,926 in the Procedure File.

The key for interpreting the output is as follows:
Proxy_A(j): Model 4
Proxy_M(j): Model 6
ExAnte_A(j): Model 9
ExAnte_M(j): Model 11
ExAnte_A(j) ARv1: Model 13
ExAnte_M(j) ARv1: Model 15
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