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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
inflation forecasting and monetary policy decision support. In contrast to the previous conditional projections, the MPM offers …, expectations by economic agents play a key role in monetary transmission; therefore, instead of one-off interest rate measures, the …
Persistent link: https://www.econbiz.de/10009224855
suggest that credible monetary policy contributes to anchoring of expectations about inflation and interest rates …
Persistent link: https://www.econbiz.de/10011009937
contribute to anchoring of expectations about nominal variables; its eects on disagreement about real variables are moderate. …
Persistent link: https://www.econbiz.de/10005041944
Not since the Great Depression have monetary policy matters and institutions weighed so heavily in commercial, financial, and political arenas. Apart from the eurozone crisis and global monetary policy issues, for nearly two years all else has counted for little more than noise on a relative...
Persistent link: https://www.econbiz.de/10009652087
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