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over- and under-predicting inflation. Our model implies biased forecasts with positive serial correlation in forecast … that biases in forecaster's ranks should be preserved over time and that forecast errors at different horizons can be …
Persistent link: https://www.econbiz.de/10004974506
We investigate the relationship between monetary policy and inflation dynamics in the US using a medium scale structural model. The specification is estimated with Bayesian techniques and fits the data reasonably well. Policy shocks account for a part of the decline in inflation volatility; they...
Persistent link: https://www.econbiz.de/10010574074
We investigate the relationship between monetary policy and inflation dynamics in the US using a medium scale structural model. The specification is estimated with Bayesian techniques and fits the data reasonably well. Policy shocks account for a part of the decline in inflation volatility; they...
Persistent link: https://www.econbiz.de/10008683692
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positive output gap and inflation above target. The estimation results show that the adaptive learning model does a better job … in fitting the data in Brazil. In addition, the estimation shows that expectations are more backward-looking and started …
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