Using forecasts to uncover the loss function of FOMC members
We revisit the sources of the bias in Federal Reserve forecasts and assess whether a precautionary motive can explain the forecast bias. In contrast to the existing literature, we use forecasts submitted by individual FOMC members to uncover members' implicit loss function. Our key finding is...
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Veröffentlicht in: | MAGKS - Joint Discussion Paper Series in Economics (Band 02-2013) |
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Autoren: | , , |
Format: | Artikel |
Sprache: | Englisch |
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Philipps-Universität Marburg
2013
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Online-Zugang: | PDF-Volltext |
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