open to trade with a third country outside the area than the other. Using the utility-based loss function for the currency …

17 different forecasts per year, we test for a possible asymmetry of the forecasters' loss function and estimate the … rationality of the forecasts under the assumption of a possibly asymmetric loss function and for the features of an optimal … forecast under the assumption of a generalized loss function. We find only limited evidence for the existence of an asymmetric …

17 different forecasts per year, we test for a possible asymmetry of the forecasters' loss function and estimate the … rationality of the forecasts under the assumption of a possibly asymmetric loss function and for the features of an optimal … forecast under the assumption of a generalized loss function. We find evidence for the existence of an asymmetric loss function …

17 different forecasts per year, we test for a possible asymmetry of the forecasters' loss function and estimate the … rationality of the forecasts under the assumption of a possibly asymmetric loss function and for the features of an optimal … forecast under the assumption of a generalized loss function. We find only limited evidence for the existence of an asymmetric …

When the central banker’s loss function is asymmetric, changes in the volatility of inflation and/or unemployment …

preserve this ranking conditions with respect to the choice of the loss function have to be discussed. To do this, we extend …

chooses to minimise an asymmetric loss function, where the monetary authority places positive weight on negative (positive …