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episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to …
Persistent link: https://www.econbiz.de/10009358584
analyze the relationship between expected inflation, disagreement, and uncertainty. We extend previous studies through our … data construction and estimation methodology. Specifically, we derive measures of disagreement and uncertainty by using a … propositions that disagreement is a useful proxy for uncertainty and that increases in expected inflation are accompanied by …
Persistent link: https://www.econbiz.de/10005420680
Forecasters to derive measures of forecast uncertainty, forecast dispersion, and forecast accuracy. We construct uncertainty … measures from aggregate density functions as well as from individual histograms. The uncertainty measures display … countercyclical behavior, and there is evidence of increased uncertainty for output growth and inflation since 2007. The results also …
Persistent link: https://www.econbiz.de/10010599808