| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7498 |
| DP7498 Internal Rationality and Asset Prices | |
| Albert Marcet; Klaus Adam | |
| 发表日期 | 2009-10-18 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | We defend the forecasting performance of the FOMC from the recent criticism of Christina and David Romer. Our argument is that the FOMC forecasts a worst-case scenario that it uses to design decisions that will work well enough (are robust) despite possible misspecification of its model. Because these FOMC forecasts are not predictions of what the FOMC expects to occur under its model, it is inappropriate to compare their performance in a horse race against other forecasts. Our interpretation of the FOMC as a robust policymaker can explain all the findings of the Romers and rationalises differences between FOMC forecasts and forecasts published in the Greenbook by the staff of the Federal Reserve System. |
| 主题 | International Macroeconomics |
| 关键词 | Forecasting Robustness monetary policy |
| URL | https://cepr.org/publications/dp7498 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536334 |
| 推荐引用方式 GB/T 7714 | Albert Marcet,Klaus Adam. DP7498 Internal Rationality and Asset Prices. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Albert Marcet]的文章 |
| [Klaus Adam]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Albert Marcet]的文章 |
| [Klaus Adam]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Albert Marcet]的文章 |
| [Klaus Adam]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
