Real-time forecasting for monetary policy analysis : the case of Sveriges Riksbank

Jens Iversen, Stefan Laséen, Henrik Lundvall and Ulf Söderström

We evaluate forecasts made in real time to support monetary policy decisions at Sveriges Riksbank (the central bank of Sweden) from 2007 to 2013. We compare forecasts made with a DSGE model and a BVAR model with judgemental forecasts published by the Riksbank, and we evaluate the usefulness of conditioning information for the model-based forecasts. We also study the perceived usefulness of model forecasts for central bank policymakers when producing the judgemental forecasts.

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Year of publication:	March 2016
Authors:	Iversen, Jens ; Laséen, Stefan ; Lundvall, Henrik ; Söderström, Ulf
Publisher:	Stockholm : Sveriges Riksbank
Subject:	Real-time forecasting \| Forecast evaluation \| Monetary policy \| Inflation targeting \| Inflation \| Wirtschaftsprognose \| Economic forecast \| Prognoseverfahren \| Forecasting model \| Geldpolitik \| Entscheidung \| Decision \| Inflationssteuerung \| Schweden \| Sweden \| 2007-2013

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Extent:	1 Online-Ressource (circa 42 Seiten) Illustrationen
Series:	Sveriges Riksbank working paper series. - Stockholm : [Verlag nicht ermittelbar], ZDB-ID 2235780-4. - Vol. 318
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/157961 [Handle]
Classification:	E37 - Forecasting and Simulation ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	ECONIS - Online Catalogue of the ZBW

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