Search Results

SORT BY: PREVIOUS / NEXT
Keywords:forecast rationality 

Working Paper
Asymmetry, Complementarities, and State Dependence in Federal Reserve Forecasts

Forecasts are a central component of policy making; the Federal Reserve''s forecasts are published in a document called the Greenbook. Previous studies of the Greenbook''s inflation forecasts have found them to be rationalizable but asymmetric if considering particular sub-periods, e.g., before and after the Volcker appointment. In these papers, forecasts are analyzed in isolation, assuming policymakers value them independently. We analyze the Greenbook fore- casts in a framework in which the forecast errors are allowed to interact. We find that allowing the losses to interact makes the ...
Working Papers , Paper 2013-012

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

C32 1 items

E32 1 items

FILTER BY Keywords

Greenbook forecasts 1 items

Taylor rule 1 items

break tests 1 items

economic research 1 items

forecast rationality 1 items

loss function 1 items

show more (1)

PREVIOUS / NEXT