Individual inflation forecasts and monetary policy announcements
Jakob de Haan,
Kostas(Konstantinos) Mavromatis and
Garyn Tan
Economics Letters, 2020, vol. 197, issue C
Abstract:
Using a decomposition of US monetary policy shocks and inflation forecasts from Consensus Economics, we find that information and monetary policy shocks move inflation expectations in opposite directions. Better performing forecasters appear less reliant on the informational content of announcements.
Keywords: Inflation forecasts; Consensus forecasts; Monetary policy shocks; Information shocks (search for similar items in EconPapers)
JEL-codes: E31 E58 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:197:y:2020:i:c:s0165176520303621
DOI: 10.1016/j.econlet.2020.109602
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