Central to the conduct of monetary policy is the preparation and evaluation of inflation forecasts. Inflation forecast are, however, not unique. Central banks, professional organizations, international institutions, households and firms also generate forecasts of inflation, among other...

Central to the conduct of monetary policy are inflation forecasts. Inflation forecasts are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for...

Empirical evidence linking monetary aggregates to variables such as inflation and economic growth has weakened over the past two decades. In this study we re-examine these relationships by creating composite monetary aggregates that switch among existing monetary aggregates, using quarterly data...

Until the global financial crisis of 2008–09, central banks celebrated the achievement of lower and more stable inflation rates. With a few exceptions, this accomplishment was a global one. Motivated by concerns over whether the relentless easing of policy in economies most stricken by the US...

Empirical evidence concerning the link between monetary aggregates and inflation or GDP growth has been underemphasized in recent years. This paper re-examines existing simple sum and creates composite monetary aggregates a la Feldstein and Stock (1996) in the Canadian context over the 1971-99...

This paper proposes that an important instrument of monetary policy of the Bundesbank, is how it communicates with the public. We argue that communication by senior central bank officials represents an instrument of monetary policy that complements changes in interest rates. Moreover, the...

This paper proposes that an important tenet of monetary policy, as practiced by the Bundesbank, is how it communicates with the public. The results have implications for the conduct of monetary policy more generally. Indeed, recent Fed behavior may also be likened to the experience of the...

Central to the conduct of monetary policy are inflation forecasts. Inflation forecast are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for...

This paper explores the behaviour of inflation forecasts from a variety of sources (ie Consensus and other professional forecasters, international and domestic financial institutions, central banks) with the aim of measuring the size and evolution of forecast disagreements and their proximate...

Central to the conduct of monetary policy are inflation forecasts. Inflation forecast are not unique. Central banks and professional organizations generate inflation forecasts while households are surveyed about their inflation outlook. This paper estimates inflation forecast disagreement for...