We investigate how the forecasting performance of the Federal Reserve Greenbooks has changed relative to commercial forecasters between 1974 and 2009. To this end, we analyze time variation in the Greenbook coefficients in forecast encompassing regressions. Assuming that model coefficients...

The last decade witnessed an unprecedented economic growth in Emerging Market Economies (EMEs). EMEs have also been the main drivers of growth in the recovery following the global financial crisis. Nevertheless, EMEs continue to face a number of institutional and structural challenges that may...

In early 2020, the Bank for International Settlements (BIS) Representative Office for the Americas contacted a group of nine central banks that includes the members of the Consultative Council of the Americas (CCA) except the US Federal Reserve (Argentina, Brazil, Canada, Chile, Colombia,...