MARC details
| 000 -LEADER |
|---|
| fixed length control field |
01720nam a22002417a 4500 |
| 003 - CONTROL NUMBER IDENTIFIER |
|---|
| control field |
ZW-GwMSU |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
|---|
| control field |
20230914123144.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
230914b |||||||| |||| 00| 0 eng d |
| 040 ## - CATALOGING SOURCE |
|---|
| Original cataloging agency |
MSU |
| Transcribing agency |
MSU |
| Description conventions |
rda |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
BAGHESTANI, Hamid |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
On the accuracy of Federal Reserve forecasts of the saving rate |
| 264 ## - PRODUCTION, PUBLICATION, DISTRIBUTION, MANUFACTURE, AND COPYRIGHT NOTICE |
|---|
| Place of production, publication, distribution, manufacture |
New York |
| Name of producer, publisher, distributor, manufacturer |
Taylor & Francis |
| Date of production, publication, distribution, manufacture, or copyright notice |
2013 |
| 336 ## - CONTENT TYPE |
|---|
| Source |
rdacontent |
| Content type term |
text |
| Content type code |
txt |
| 337 ## - MEDIA TYPE |
|---|
| Source |
rdamedia |
| Media type term |
unmediated |
| Media type code |
n |
| 338 ## - CARRIER TYPE |
|---|
| Source |
rdacarrier |
| Carrier type term |
volume |
| Carrier type code |
nc |
| 440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE |
|---|
| Title |
Applied Economics Letters |
| Volume/sequential designation |
Volume , number , |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc. |
This study investigates the unbiasedness and efficiency of the Federal Reserve forecasts of the saving rate for two distinct periods. For 1984–1997, when the saving rate was relatively stable, the forecasts are generally unbiased and efficient. For 1998–2007, when the saving rate experienced significant declines, the forecasts are generally biased (over-predicting) but still efficient. Evidence of efficiency or ‘weakly’ rationality implies that the Federal Reserve forecasts were generated under symmetric (asymmetric) loss for 1984–1997 (1998–2007). Under asymmetric loss where the forecast errors of the same magnitude but of different signs possess different costs, biased forecasts may still be optimal if the bias is strictly due to asymmetric loss. As such, for 1998–2007, the Federal Reserve staff may have assigned high cost (loss) to under-predictions but little or no cost to over-predictions due to, perhaps, perceiving the unusual declines in the saving rate as temporary. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
forecast evaluation |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
saving rate |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name entry element |
FOMC |
| 856 ## - ELECTRONIC LOCATION AND ACCESS |
|---|
| Uniform Resource Identifier |
https://doi.org/10.1080/13504851.2013.831164 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
Library of Congress Classification |
| Koha item type |
Journal Article |