anticipate monetary policy by the European Central Bank (ECB)? Using a database of surveys of professional ECB policy forecasters … in 24 countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography … central banking in the past. In large part, this heterogeneity can be traced to differences in forecasting models. While some …

This Selected Issues Paper on Iran reviews that monetary factors are the main determinants of inflation in the country … growing discontent with inflation, however, has compelled policymakers to focus on this issue, bringing it to the forefront of …

The report gives details of the economic analysis for the implementation of Chile's inflation targeting framework. It … corporate bonds to the market. The paper considers a number of microstructure issues, transparency in the Over-the-Counter (OTC …) market, addresses the role of public debt in facilitating development of the financial markets, and discusses a potential …

We analyze the effect of IMF programs on economic agents' expectations about the economy in transitional countries … flows or yield spreads, to assess the impact of IMF programs on economic expectations. Using a multinomial probit model, we … find that IMF loans appear to have a strong effect on agent expectations in the early years, through the inflow of real …

analyses of the relationship between projections and outcomes for growth, inflation, and three balance of payments concepts …. Statistical bias is found only for projections of inflation and official reserves. Statistical efficiency can be rejected for all …

The paper proposes an algorithm that uses forecast encompassing tests for combining forecasts. The algorithm excludes a … forecast from the combination if it is encompassed by another forecast. To assess the usefulness of this approach, an extensive …

surprise news about the inflation rate and interest rates. Stock returns are also positively correlated with the unexpected … market portfolios can detect the impact of common economic shocks better than the portfolios of the two main subsectors of … the market. …

) revisits the measurement of global house price inflation and the modeling of the determinants of house price inflation using …