This paper studies optimal monetary policy responses in an economy featuring sectorial heterogeneity in the frequency …

involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand … banking in the past. In large part this heterogeneity can be traced to differences in forecasting models. While some …

The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US … FOMC decisions varies 5 to 10 basis points between the best and worstperformers across the sample. This heterogeneity is … anticipating important events such as monetary policy decisions. Moreover, the paper shows that such heterogeneity is economically …

over on macro level and what is the role of agent heterogeneity in the process. We look at two kinds of asymmetries: (i … conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. …

involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand … banking in the past. In large part this heterogeneity can be traced to differences in forecasting models. While some …

The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … basis points between the best and worst-performers across the sample. This heterogeneity is found to be related to both the … anticipating monetary policy. Moreover, systematic forecaster heterogeneity is economically important as it leads to greater …

This paper studies optimal monetary policy responses in an economy featuring sectorial heterogeneity in the frequency …

that the Friedman rule is not in general optimal. The results are due to the existence of another source of heterogeneity … differences in earning ability were the only source of heterogeneity, the fiscal authority would be able to neutralize the effects …