The forecasting properties of survey-based wage-growth expectations

Thomas Jonsson and Pär Österholm

Economics Letters, 2011, vol. 113, issue 3, 276-281

Abstract: We evaluate survey-based wage-growth expectations and find that they are neither unbiased nor efficient forecasts. Concerning out-of-sample forecast precision, survey participants generally perform worse than a constant forecast. Caution should accordingly be exercised when relying on these data for policymaking.

Keywords: Survey data; Forecasts; Sweden; Monetary policy (search for similar items in EconPapers)
JEL-codes: E52 J30 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (12)

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Related works:
Working Paper: The Forecasting Properties of Survey-Based Wage-Growth Expectations (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:113:y:2011:i:3:p:276-281

DOI: 10.1016/j.econlet.2011.08.013

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