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.
Original language | English |
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Article number | 109602 |
Number of pages | 3 |
Journal | Economics Letters |
Volume | 197 |
DOIs | |
Publication status | Published - Dec-2020 |
Keywords
- Inflation forecasts
- Consensus forecasts
- Monetary policy shocks
- Information shocks