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This paper contributes to the old theme of testing for rationality of inflation expectations in surveys, using two very different surveys in parallel. Focusing on the euro area and using two well-known surveys that include questions on inflation expectations, the Consensus Forecast survey and...
Persistent link: https://www.econbiz.de/10003516630
This paper contributes to the old theme of testing for rationality of inflation expectations in surveys, using two very different surveys in parallel. Focusing on the euro area and using two well-known surveys that include questions on inflation expectations, the Consensus Forecast survey and...
Persistent link: https://www.econbiz.de/10012777896
Persistent link: https://www.econbiz.de/10001590833
Diffusion indexes based on dynamic factors have recently been advocated by Stock and Watson (1998), and further used to perform forecasting tests by the same authors on US data. This technique is explored for the euro area using a multi-country data set and a broad array of variables, in order...
Persistent link: https://www.econbiz.de/10013320285
This paper applies the "diffusion indices" approach proposed by Stock and Watson [1998] to the euro area. Following their methodology a set of factors are extracted from a balanced and unbalanced panel dataset comprising nominal variables for 11 countries of the euro area. The estimated factors...
Persistent link: https://www.econbiz.de/10013320286
Persistent link: https://www.econbiz.de/10013434346
Persistent link: https://www.econbiz.de/10013434347