How Should the Fed Report Uncertainty?

In January 2012 the Fed began reporting ranges of its economic forecasts. The ranges, however, measure differences of opinion, not variances of economic forecasts. This paper discusses what the Fed could report in a world in which it used a single macroeconometric model to make its forecasts and guide its policies. Suggestions are then made as to what might be feasible for the Fed to report given that it is unlikely to be willing to commit to a single model.

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Year of publication:	2012-06
Authors:	Fair, Ray C.
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Forecasting uncertainty \| Fed policy

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The price is None Number 1864 23 pages
Classification:	E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010686934