With the concept of trend inflation now widely understood as to be important as a measure of the public's perception of the inflation goal of the central bank and important to the accuracy of longer-term inflation forecasts, this paper uses Bayesian methods to assess alternative models of trend...

There is growing concern that much of the published research literature is distorted by the pursuit of statistically significant results. In a seminal article, Ioannidis and Trikalinos (2007, Clinical Trials) proposed an omnibus (I&T) test for significance chasing (SC) biases. This test compares...

Quantitative investment strategies are often selected from a broad class of candidate models estimated and tested on historical data. Standard statistical techniques to prevent model overfitting such as out-sample backtesting turn out to be unreliable in situations when the selection is based on...