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forecasters, the SPF systematically under-forecast inflation but that there is less evidence of such systematic errors for GDP and … analysis. Second, we consider SPF respondents’ assessment of forecast uncertainty using information from heir probability …
Persistent link: https://www.econbiz.de/10011606211
In this paper we review the well-known problem of how to measure price developments when the quality of the underlying goods and services is changing over time. The importance of appropriate methods to take account of quality change is highlighted from the perspective of monetary policy. In...
Persistent link: https://www.econbiz.de/10011606167