Are heterogeneous FOMC forecasts consistent with the Fed’s monetary policy?

Yes, they are! We find that although there is a surprisingly high dispersion of individual forecasts and some dissent on the Federal Funds target, the FOMC’s individual behavior is well described by a Taylor-type rule.

MoreLess

Year of publication:	2012
Authors:	Fendel, Ralf ; Rülke, Jan-Christoph
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 116.2012, 1, p. 5-7
Publisher:	Elsevier
Subject:	FOMC \| Forecasts \| Taylor rule

More details

Type of publication:	Article
Classification:	C23 - Models with Panel Data ; E31 - Price Level; Inflation; Deflation ; E37 - Forecasting and Simulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041572