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Persistent link: https://www.econbiz.de/10010955284
made in the first oil price shock of the 1970s. In response to the challenges encountered in forecasting in recent years … and the lessons learnt, the OECD and other international organisations have sought to improve their forecasting techniques …
Persistent link: https://www.econbiz.de/10011277004
This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them …, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to …
Persistent link: https://www.econbiz.de/10009647399
This paper proposes a measure of real-time inflation expectations based on metadata, i.e., data about data, constructed … from internet search queries performed on the search engine Google. The forecasting performance of the Google Inflation … Search Index (GISI) is assessed relative to 37 other indicators of inflation expectations – 36 survey measures and the TIPS …
Persistent link: https://www.econbiz.de/10009647210
suggest that credible monetary policy contributes to anchoring of expectations about inflation and interest rates …
Persistent link: https://www.econbiz.de/10011009937
South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more space for flexibility in the face of...
Persistent link: https://www.econbiz.de/10008854030
evidence that these changes have helped in terms of better anchoring inflation expectations. At the same time there is no firm …
Persistent link: https://www.econbiz.de/10005045854
Macroeconomic performance in the Economic and Monetary Union (EMU) will be impaired if macroeconomic shocks are largely asymmetric, fiscal policy flexibility is limited, goods markets adjust sluggishly, labour mobility is low and automatic stabilization from federal taxes and government spending...
Persistent link: https://www.econbiz.de/10011092163
This paper explicitly models strategic interaction between two independent national fiscal authorities and a single central bank in a simple New Keynesian model of a monetary union. Monetary policy is constrained by the zero lower bound on nominal interest rates. Coordination of fiscal policies...
Persistent link: https://www.econbiz.de/10010602243
In the wake of the recent international economic recession in 2008-2009, forecasting methods designed to anticipate …
Persistent link: https://www.econbiz.de/10010569713