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dc.contributor.authorTillmann, Peteren
dc.date.accessioned2010-05-11-
dc.date.accessioned2012-04-04T13:49:43Z-
dc.date.available2012-04-04T13:49:43Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/56500-
dc.description.abstractThe Federal Open Market Committee (FOMC) of the Federal Reserve consists of voting- and non-voting members. Apart from deciding about interest rate policy, members individually formulate regular inflation forecasts. This paper uncovers systematic differences in individual inflation forecasts submitted by voting and non-voting members. Based on a data set with individual forecasts recently made available it is shown that non-voters systematically overpredict inflation relative to the consensus forecast if they favor tighter policy and underpredict inflation if the favor looser policy. These findings are consistent with non-voting member following strategic motives in forecasting, i.e. non-voting members use their forecast to influence policy deliberation.en
dc.language.isoengen
dc.publisher|aPhilipps-University Marburg, Faculty of Business Administration and Economics |cMarburgen
dc.relation.ispartofseries|aMAGKS Joint Discussion Paper Series in Economics |x17-2010en
dc.subject.jelE43en
dc.subject.jelE52en
dc.subject.ddc330en
dc.subject.keywordinflation forecasten
dc.subject.keywordforecast errorsen
dc.subject.keywordmonetary policyen
dc.subject.keywordmonetary committeeen
dc.subject.keywordFederal Reserveen
dc.subject.stwGeldpolitiken
dc.subject.stwGruppenentscheidungen
dc.subject.stwInflationen
dc.subject.stwPrognoseen
dc.subject.stwManipulationen
dc.subject.stwUSAen
dc.titleStrategic forecasting on the FOMC-
dc.typeWorking Paperen
dc.identifier.ppn625900308en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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