Franses, Philip Hans; McAleer, Michael; Legerstee, … - Faculteit der Economische Wetenschappen, Erasmus … - 2008
forecasts, this paper develops a model to generate replicable FOMC forecasts, and compares the staff forecasts, non-replicable … FOMC forecasts, and replicable FOMC forecasts, considers optimal forecasts and efficient estimation methods, and presents a … direct test of FOMC expertise on non-replicable FOMC forecasts. The empirical analysis of Romer and Romer (2008) is re …