6 Works

What Peer-review Experiences Can Offer To Early Career Scientists And To The Scientific Community

Gwenaëlle Gremion, Mathieu Casado, Kelsey Aho, Jilda Alicia Caccavo, Nicolas Champollion, Emily Choy, Sarah L. Connors, Rahul Dey, Alfonso Fernandez, Gerlis Fugmann, Juan Höfer, Shridhar Jawak, Martine Lizotte, Sarah Maes, Kyle Mayers, Katja Mintenbeck, Jhon Fredy Mojica Moncada, Prashant H. Pandit, Elvira Poloczanska, Paul Rosenbaum, Elisa Seyboth, Sarah Shakil & Maud van Soest

On the Believable Benefits of Low Inflation

Christopher Ragan
This paper reviews the existing theoretical and empirical literature addressing the benefits of low inflation. The ultimate goal is to arrive at a set of benefits in which a monetary authority can have genuine confidence. I argue that the current state of economic research—both empirical and theoretical—provides little basis for believing in significant observable benefits of low inflation such as an increase in the growth rate of real GDP. Moreover, what observable benefits do exist...

Electronic Transactions as High-Frequency Indicators of Economic Activity

John W. Galbraith & Greg Tkacz
Since the advent of standard national accounts data over 60 years ago, economists have traditionally relied on monthly or quarterly data supplied by central statistical agencies for macroeconomic modelling and forecasting. However, technological advances of the past several years have resulted in new high-frequency data sources that could potentially provide more accurate and timely information on the current level of economic activity. In this paper we explore the usefulness of electronic transactions as real-time indicators...

Entre conservation et mise à mort : le sort de la senefiance dans Claris et Laris

Camilia Gélinas
Tropics, 09, 39-57

Price-Level Targeting and Inflation Expectations: Experimental Evidence

Robert Amano, Engle-Warnick Jim & Malik Shukayev
In this paper, we use an economics decision-making experiment to test a key assumption underpinning the efficacy of price-level targeting relative to inflation targeting for business cycle stabilization and mitigating the effects of the zero lower bound on nominal interest rates. In particular, we attempt to infer whether experimental participants understand the stationary nature of the price level under price-level targeting by observing their inflation forecasting behaviour in a laboratory setting. This is an important...

How Far Can Forecasting Models Forecast? Forecast Content Horizons for Some Important Macroeconomic Variables

John W. Galbraith & Greg Tkacz
For stationary transformations of variables, there exists a maximum horizon beyond which forecasts can provide no more information about the variable than is present in the unconditional mean. Meteorological forecasts, typically excepting only experimental or exploratory situations, are not reported beyond this horizon; by contrast, little generally accepted information about such maximum horizons is available for economic variables. The authors estimate such content horizons for a variety of economic variables, and compare these with the...

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