The Resource Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?

Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?

Label
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
Title
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
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Summary
Federal Open Market Committee (FOMC) projections are important because they provide information for evaluating current monetary policy intentions and because they indicate what FOMC members think will be the likely consequence of their policies. Knowing the Fed's objectives, their forecasts, and recent deviations of the economy from the forecasts should be sufficient to understand how the Fed is making monetary policy. Results here show that the Blue Chip consensus forecasts are a good proxy for the FOMC views. For example, they match the policymakers' views as closely as do the Board staff forecasts presented at FOMC meetings. Using alternative forms of the Taylor rule, the authors show that the Blue Chip consensus and the Fed policymakers' forecasts have almost identical implications for the monetary policy process
http://library.link/vocab/creatorName
  • Gavin, William T
  • Inter-university Consortium for Political and Social Research [distributor]
http://library.link/vocab/relatedWorkOrContributorName
Mandel, Rachel
Label
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
Instantiates
Publication
Note
1242
Control code
ICPSR01242.v1
Governing access note
Access restricted to subscribing institutions
Label
Forecasting Inflation and Growth: Do Private Forecasts Match Those of Policymakers?
Publication
Note
1242
Control code
ICPSR01242.v1
Governing access note
Access restricted to subscribing institutions

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