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Headline and Core Inflation: An Empirical Analysis Based on the ECB Survey of Professional Forecasters

Headline and Core Inflation: An Empirical Analysis Based on the ECB Survey of Professional... Int Adv Econ Res (2018) 24:207–208 https://doi.org/10.1007/s11294-018-9686-8 RESEARCH NOTE Headline and Core Inflation: An Empirical Analysis Based on the ECB Survey of Professional Forecasters 1,2 3 M. C. Ramos-Herrera & S. Sosvilla-Rivero Published online: 19 May 2018 International Atlantic Economic Society 2018 JEL Codes E31 D84 Quantifying individual expectations has become a very important topic in economics, both for academic researchers and policymakers. One of the most relevant advantages of collecting probabilistic expectations is that the quantitative answers can be used to compare predictions across different agents and time, as well as to analyse their consistency. The Survey of Professional Forecasters (SPF) conducted by the European Central Bank (ECB) offers expectations about real economic growth, inflation and unemploy- ment rates. In this case, we focus on point and probability distribution forecasts for headline and core inflation rates. Since 1999, this SPF has been conducted quarterly. This survey collects responses from financial and other institutions from around the European Union. It is usually based on approximately 75 professional forecasters with an average of 60 respondents for each round. It is subject to revisions during the survey, adapting to different circumstances. These panellists usually update their forecasts following data releases or http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Advances in Economic Research Springer Journals

Headline and Core Inflation: An Empirical Analysis Based on the ECB Survey of Professional Forecasters

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Publisher
Springer Journals
Copyright
Copyright © 2018 by International Atlantic Economic Society
Subject
Economics; Economics, general; Macroeconomics/Monetary Economics//Financial Economics; International Economics; Microeconomics; Economic Growth
ISSN
1083-0898
eISSN
1573-966X
DOI
10.1007/s11294-018-9686-8
Publisher site
See Article on Publisher Site

Abstract

Int Adv Econ Res (2018) 24:207–208 https://doi.org/10.1007/s11294-018-9686-8 RESEARCH NOTE Headline and Core Inflation: An Empirical Analysis Based on the ECB Survey of Professional Forecasters 1,2 3 M. C. Ramos-Herrera & S. Sosvilla-Rivero Published online: 19 May 2018 International Atlantic Economic Society 2018 JEL Codes E31 D84 Quantifying individual expectations has become a very important topic in economics, both for academic researchers and policymakers. One of the most relevant advantages of collecting probabilistic expectations is that the quantitative answers can be used to compare predictions across different agents and time, as well as to analyse their consistency. The Survey of Professional Forecasters (SPF) conducted by the European Central Bank (ECB) offers expectations about real economic growth, inflation and unemploy- ment rates. In this case, we focus on point and probability distribution forecasts for headline and core inflation rates. Since 1999, this SPF has been conducted quarterly. This survey collects responses from financial and other institutions from around the European Union. It is usually based on approximately 75 professional forecasters with an average of 60 respondents for each round. It is subject to revisions during the survey, adapting to different circumstances. These panellists usually update their forecasts following data releases or

Journal

International Advances in Economic Research – Springer Journals

Published: May 19, 2018

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