This article uses the Survey of Professional Forecasters (SPF) to investigate the added value of the Taylor rule in interest rate forecasting. We interpret the Taylor rule as a set of macroeconomic restrictions that can be imposed on each individual professional forecaster's predictions of...

We provide empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from participants in the Survey of Professional Forecasters over the period 1969 to...

This article employs panel cointegration techniques to explore the impact of the euro crisis on the relationship between deposit rates and deposit holdings in the euro area. For the period prior to the crisis, no significant relationship between these variables can be established. In contrast,...