We defend the forecasting performance of the Federal Reserve Open Market Committee
(FOMC) against the criticism of Christina and David Romer (2008, American Economic …

This paper aims to extend the findings of Romer and Romer (2000) to a setup where the
time variation of (relative) forecast performances is addressed in much greater detail. We …

This paper provides a detailed analysis of the forecasts of real GDP, inflation and
unemployment made by individual members of the Federal Open Market Committee (FOMC) …

We revisit the sources of the bias in Federal Reserve forecasts and assess whether a
precautionary motive can explain the forecast bias. In contrast to the existing literature, we …

A central tenet of Macroeconomics is that monetary policy is forward looking. But Romer
(2010) uses the forecasts of the participants of the US Federal Open Market Committee's …

This study provides a measure of the degree of stress that exists among Fed districts in the
US. Stress in a district is defined as the difference between the desired interest rate of its …

Academic analyses of US monetary policies assume that the appropriate interest rate is
determined by the central banker (ie, the Fed) based on that banker's forecasts for inflation …

We defend the forecasting performance of the Federal Reserve Open Market Committee
(FOMC) against the criticism of Christina and David Romer (2008, American Economic …