Individual inflation forecasts and monetary policy announcements

Jakob de Haan*, Kostas Mavromatis, Garyn Tan

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

29 Downloads (Pure)

Abstract

Using a decomposition of US monetary policy shocks and inflation forecasts from Consensus Economics, we find that information and monetary policy shocks move inflation expectations in opposite directions. Better performing forecasters appear less reliant on the informational content of announcements. (C) 2020 The Author(s). Published by Elsevier B.V.

Original languageEnglish
Article number109602
Number of pages3
JournalEconomics Letters
Volume197
DOIs
Publication statusPublished - Dec-2020

Keywords

  • Inflation forecasts
  • Consensus forecasts
  • Monetary policy shocks
  • Information shocks

Cite this