It is not necessary to choose one particular model, and
indeed to do so would be suboptimal. The ability to actually carry out this simultaneous
consideration of multiple models has been enhanced greatly by recent developments
in simulation methods, surveyed in Section 15 below; recent texts by Koop (2003), Lan-caster (2004) and Geweke (2005) provide technical details. Geweke and Whiteman (2006)
specifically outline these methods in the context of economic forecasting.