Year: 2014
Type: article
Abstract: In recent years, the central banks of Norway and Sweden have published their endogenous policy interest‐rate forecasts. In this paper, we evaluate those forecasts alongside policy‐rate expectations inferred from market pricing. We find that for both economies, there are only small differences in relative forecasting precision between the central bank and market‐implied measures. However, both types of forecast fail tests for unbiasedness and efficiency at longer horizons.
Source: Economic Notes
DOI: 10.1111/ecno.12012
Authors: Meredith Beechey, Pär Österholm
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2271908457