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US inflation expectations and heterogeneous loss functions, 1968-2010
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Clements, Michael P. (2012) US inflation expectations and heterogeneous loss functions, 1968-2010. Working Paper. Coventry: Department of Economics, University of Warwick. Warwick economics research paper series (TWERPS), Volume 2012 (Number 986). (Unpublished)
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Text (Working paper)
WRAP_Clements_twerp_986 (1).pdf - Published Version Download (449Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
The recent literature has suggested that macroeconomic forecasters may have asymmetric loss
functions, and that there may be heterogeneity across forecasters in the degree to which they weigh
under and over-predictions. Using an individual-level analysis that exploits the SPF respondents’
histogram forecasts, we find little evidence of asymmetric loss for the inflation forecasters.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Economic forecasting, Economic surveys, Inflation (Finance) -- United States, Macroeconomics --Mathematical models , Rational expectations (Economic theory), Economic indicators | ||||
Series Name: | Warwick economics research paper series (TWERPS) | ||||
Publisher: | Department of Economics, University of Warwick | ||||
Place of Publication: | Coventry | ||||
Official Date: | 2012 | ||||
Dates: |
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Volume: | Volume 2012 | ||||
Number: | Number 986 | ||||
Institution: | University of Warwick | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Unpublished | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Date of first compliant deposit: | 1 August 2016 | ||||
Date of first compliant Open Access: | 1 August 2016 |
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