PROBABILISTIC INTEREST RATE SETTING WITH A SHADOW BOARD: A DESCRIPTION OF THE PILOT PROJECT

This study aims to assess the scope for monetary policymakers to aggregate probabilistic interest rate advice. The members of a Shadow Board give probabilistic assessments of the appropriate (target) interest rate for Australia in real time. The pilot project will be running in August, September and October 2011, with the Shadow Board giving advice shortly before each decision by the Reserve Bank of Australia (RBA) Board.

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Year of publication:	2011-08
Authors:	HENCKEL, TIMO ; VAHEY, SHAUN ; WAKERLY, LIZ
Institutions:	College of Business and Economics, Australian National University

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Extent:	application/pdf
Series:	CAMA Working Papers.
Type of publication:	Book / Working Paper
Notes:	16 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009193209