How forward-looking are central banks?: Some evidence from their forecasts/ created by Michal Brzoza-Brzezina, Jacek Kotłowski and Agata Miśkowiec

By:

Brzoza-Brzezina, Michal [author]

Contributor(s):

Material type: Text

TextSeries: Applied economics letters ; Volume 20, number 2New York: Taylor and Francis, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

13504851

Subject(s):

Targeting rules -- Forward looking monetary policy -- Central bank forecasts

LOC classification:

HB1.A666 APP

Online resources:

Click here to access online

Abstract: We estimate forward-looking Taylor rules on data from macroeconomic forecasts of three central banks in order to determine the extent to which these banks are forward-looking. We find that all three banks are to some extent forward-looking, albeit to a varying degree. In general, the horizons for inflation seem to be longer than for output. We also find that central banks prefer to concentrate on one particular horizon rather than take into account the whole forecast.

Reviews from LibraryThing.com:

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB1.A666 APP (Browse shelf(Opens below))	Vol. 20, no.2 (pages 142-146)	SP17971	Not for loan	For in house use only

Browsing Main Library shelves, Shelving location: - Special Collections Close shelf browser (Hides shelf browser)

Previous	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	No cover image available	Next
Previous	HB1.A666 APP What is more important, the outcome or the probability?/	HB1.A666 APP US tax acts and their effects on average tax rates/	HB1.A666 APP Do variable length moving average trading rules matter during a financial crisis period?/	HB1.A666 APP How forward-looking are central banks?: Some evidence from their forecasts/	HB1.A666 APP Bootstrap test for seasonal cointegrating ranks/	HB1.A666 APP Oil shocks and the US terms of trade: gauging the role of the trade channel/	HB1.A666 APP Why some nascent entrepreneurs do not seek professional assistance/	Next

We estimate forward-looking Taylor rules on data from macroeconomic forecasts of three central banks in order to determine the extent to which these banks are forward-looking. We find that all three banks are to some extent forward-looking, albeit to a varying degree. In general, the horizons for inflation seem to be longer than for output. We also find that central banks prefer to concentrate on one particular horizon rather than take into account the whole forecast.

There are no comments on this title.

to post a comment.

here