Introducing BISTRO: a foundational model for unconditional and conditional forecasting of macroeconomic time series | 국외연구자료

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Introducing BISTRO: a foundational model for unconditional and conditional forecasting of macroeconomic time series

BIS

2026.03.18

This article introduces the BIS Time-series Regression Oracle (BISTRO), a general purpose time series model for macroeconomic forecasting. Its edge over traditional econometric approaches lies in its ability to deal with generic unconditional and conditional forecasting tasks, without requiring to adjust the model to the macroe conomic tasks being tackled. Building on the transformer architecture underlying LLMs, BISTRO is fine-tuned on the large repository of macroeconomic data main tained at the BIS. We show that BISTRO provides reliable unconditional forecasts for key macroeconomic aggregates and illustrate how using it for conditional fore casting can help unveiling patterns of nonlinearity in the data

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