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Forecasting ECB monetary policy : accuracy is (still) a matter of geography /

Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central Bank (...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Berger, Helge (Autor), Ehrmann, Michael (Autor), Fratzscher, Marcel (Autor)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2006.
Colección:IMF working paper ; WP/06/41.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Berger, Helge,  |e author. 
245 1 0 |a Forecasting ECB monetary policy :  |b accuracy is (still) a matter of geography /  |c prepared by Helge Berger, Michael Ehrmann, and Marcel Fratzscher. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2006. 
300 |a 1 online resource (40 pages) 
336 |a text  |b txt  |2 rdacontent 
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490 1 |a IMF working paper ;  |v WP/06/41 
504 |a Includes bibliographical references. 
588 0 |a Print version record. 
520 |a Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the European Central Bank (ECB)? Using a database of surveys of professional ECB policy forecasters in 24 countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and clustering around informational hubs, as well as to country-specific economic conditions and traditions of independent central banking in the past. In large part, this heterogeneity can be traced to differences in forecasting models. While some systematic differences between analysts have been transitional and are indicative of learning, others are more persistent. 
505 0 |a Contents -- I. INTRODUCTION -- II. DATA AND SOME STYLIZED FACTS -- III. THE ROLE OF GEOGRAPHY, MACRO CONDITIONS, AND HISTORY -- IV. DECOMPOSITION OF THE FORECASTING ERRORS -- V. CONCLUSIONS -- References 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Monetary policy  |z European Union countries. 
651 0 |a European Union countries  |x Economic policy. 
651 0 |a European Economic Community countries  |x Economic policy. 
650 6 |a Politique monétaire  |z Pays de l'Union européenne. 
651 6 |a Pays de l'Union européenne  |x Politique économique. 
650 7 |a Economic policy  |2 fast 
650 7 |a Monetary policy  |2 fast 
651 7 |a European Union countries  |2 fast 
700 1 |a Ehrmann, Michael,  |e author. 
700 1 |a Fratzscher, Marcel,  |e author. 
758 |i has work:  |a Forecasting ECB monetary policy (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGM4VhgQmcPJhMCmGkQ4jd  |4 https://id.oclc.org/worldcat/ontology/hasWork 
830 0 |a IMF working paper ;  |v WP/06/41. 
856 4 0 |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=3014395  |z Texto completo 
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