Paloviita, Maritta; Mayes, David - Deutsche Bundesbank - 2004
required in the instrument set for every time period. We use a single consistent source for 'real-time' data on the past …; (2) real time data indicate that the balance of expectations formation was more forward than backward-looking; (3) by … performance of forecasts, published at the time, as representations of expectations. Second, we explore the impact of using 'real …