Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/43370 
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dc.contributor.authorD'Agostino, Antonelloen
dc.contributor.authorWhelan, Karlen
dc.date.accessioned2010-12-16T13:36:00Z-
dc.date.available2010-12-16T13:36:00Z-
dc.date.issued2007-
dc.identifier.pihdl:10197/964en
dc.identifier.urihttp://hdl.handle.net/10419/43370-
dc.description.abstractUsing data from the period 1970-1991, Romer and Romer (2000) showed that Federal Reserve forecasts of inflation and output were superior to those provided by commercial forecasters. In this paper, we show that this superior forecasting performance deteriorated after 1991. Over the decade 1992-2001, the superior forecast accuracy of the Fed held only over a very short time horizon and was limited to its forecasts of inflation. In addition, the performance of both the Fed and the commercial forecasters in predicting inflation and output, relative to that of 'naive' benchmark models, dropped remarkably during this period.en
dc.language.isoengen
dc.publisher|aUniversity College Dublin, UCD School of Economics |cDublinen
dc.relation.ispartofseries|aUCD Centre for Economic Research Working Paper Series |xWP07/22en
dc.subject.ddc330en
dc.subject.stwWirtschaftsprognoseen
dc.subject.stwInflationsrateen
dc.subject.stwGesamtwirtschaftliche Produktionen
dc.subject.stwZentralbanken
dc.subject.stwWirtschaftsforschungsinstituten
dc.subject.stwUSAen
dc.titleFederal reserve information during the great moderation-
dc.type|aWorking Paperen
dc.identifier.ppn557451310en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:ucn:wpaper:200722en

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