Information Rigidities : Comparing Average and Individual Forecasts for a Large International Panel /

We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989-2010. We show that the degree of information rigidity in average forecasts is substantially higher than that in individual forecasts. Individual level forecasts are...

Deskribapen osoa

Xehetasun bibliografikoak
Egile nagusia: Dovern, Jonas
Beste egile batzuk: Fritsche, Ulrich, Loungani, Prakash, Tamirisa, Natalia
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2014.
Saila:IMF Working Papers; Working Paper ; No. 2014/031
Gaiak:
Sarrera elektronikoa:Full text available on IMF
LEADER 02069cas a2200349 a 4500
001 AALejournalIMF014235
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781484305201 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Dovern, Jonas. 
245 1 0 |a Information Rigidities :   |b Comparing Average and Individual Forecasts for a Large International Panel /  |c Jonas Dovern, Ulrich Fritsche, Prakash Loungani, Natalia Tamirisa. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2014. 
300 |a 1 online resource (24 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a We study forecasts for real GDP growth using a large panel of individual forecasts from 36 advanced and emerging economies during 1989-2010. We show that the degree of information rigidity in average forecasts is substantially higher than that in individual forecasts. Individual level forecasts are updated quite frequently, a behavior more in line 'noisy' information models (Woodford, 2002; Sims, 2003) than with the assumptions of the sticky information model (Mankiw and Reis, 2002). While there are cross-country variations in information rigidity, there is no systematic difference between advanced and emerging economies. 
538 |a Mode of access: Internet 
650 7 |a Aggregation Bias  |2 imf 
650 7 |a Data Set  |2 imf 
650 7 |a Growth Forecasts  |2 imf 
650 7 |a Rational Inattention  |2 imf 
650 7 |a WP  |2 imf 
651 7 |a United States  |2 imf 
700 1 |a Fritsche, Ulrich. 
700 1 |a Loungani, Prakash. 
700 1 |a Tamirisa, Natalia. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2014/031 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2014/031/001.2014.issue-031-en.xml  |z IMF e-Library