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Forecast accuracy and monetary policy

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  • Michael F. Bryan
  • William T. Gavin

Abstract

An examination of GNP forecasts and their implications for monetary policy, showing that although such forecasts have lessened uncertainty about the economy's future course, the errors are still too large to justify basing monetary policy on the near-term GNP outlook alone.

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File URL: http://www.clevelandfed.org/Research/commentary/1991/0101.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Cleveland in its journal Economic Commentary.

Volume (Year): (1991)
Issue (Month): Jan ()
Pages:

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Handle: RePEc:fip:fedcec:y:1991:i:jan1

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Keywords: Monetary policy ; Forecasting;

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