The usefulness of the median CPI in Bayesian VARs used for macroeconomic forecasting and policy
In this paper, we investigate the forecasting performance of the median Consumer Price Index (CPI) in a variety of Bayesian Vector Autoregressions (BVARs) that are often used for monetary policy. Until now, the use of trimmed-mean price statistics in forecasting inflation has often been relegated to...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer Verlag
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |