Probabilistic Interest Rate Setting With A Shadow Board: A Description Of The Pilot Project
AbstractThis study aims to assess the scope for monetary policymakers to aggregate probabilistic interest rate advice. The members of a Shadow Board give probabilistic assessments of the appropriate (target) interest rate for Australia in real time. The pilot project will be running in August, September and October 2011, with the Shadow Board giving advice shortly before each decision by the Reserve Bank of Australia (RBA) Board.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University in its series CAMA Working Papers with number 2011-27.
Length: 16 pages
Date of creation: Aug 2011
Date of revision:
Contact details of provider:
Postal: Crawford Building, Lennox Crossing, Building #132, Canberra ACT 0200
Phone: +61 2 6125 4705
Fax: +61 2 6125 5448
Web page: http://cama.crawford.anu.edu.au
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Sibert, Anne, 1999.
"Monetary Policy Committees: Individual and Collective Reputations,"
CEPR Discussion Papers
2328, C.E.P.R. Discussion Papers.
- Anne Sibert, 2003. "Monetary Policy Committees: Individual and Collective Reputations," Review of Economic Studies, Wiley Blackwell, vol. 70(3), pages 649-665, 07.
- Anne Sibert, 1999. "Monetary Policy Committees: Individual and Collective Reputations," CESifo Working Paper Series 226, CESifo Group Munich.
- Christian Kascha & Francesco Ravazzolo, 2010.
"Combining inflation density forecasts,"
Journal of Forecasting,
John Wiley & Sons, Ltd., vol. 29(1-2), pages 231-250.
- Kenneth F. Wallis, 2005. "Combining Density and Interval Forecasts: A Modest Proposal," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(s1), pages 983-994, December.
- Anne Sofie Jore & James Mitchell & Shaun Vahey, 2008.
"Combining Forecast Densities from VARs with Uncertain Instabilities,"
Reserve Bank of New Zealand Discussion Paper Series
DP2008/18, Reserve Bank of New Zealand.
- Anne Sofie Jore & James Mitchell & Shaun P. Vahey, 2010. "Combining forecast densities from VARs with uncertain instabilities," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(4), pages 621-634.
- Anne-Sofie Jore & James Mitchell & Shaun P. Vahey, 2008. "Combining forecast densities from VARs with uncertain instabilities," Working Paper 2008/01, Norges Bank.
- Petra M. Geraats, 2006.
"The Mystique of Central Bank Speak,"
123, Oesterreichische Nationalbank (Austrian Central Bank).
- Anke Weber, 2010. "Monetary Policy Committees, Learning, and Communication," IMF Working Papers 10/85, International Monetary Fund.
- Frederic S. Mishkin, 2009.
"Monetary Policy Strategy,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262513374, December.
- Anne Sibert, 2006.
"Central Banking by Committee,"
DNB Working Papers
091, Netherlands Central Bank, Research Department.
- van der Cruijsen, Carin & Jansen, David-Jan & de Haan, Jakob, 2010.
"How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households,"
Working Paper Series
1265, European Central Bank.
- Carin van der Cruijsen & David-Jan Jansen & Jakob de Haan, 2010. "How much does the public know about the ECB's monetary policy? Evidence from a survey of Duch households," DNB Working Papers 252, Netherlands Central Bank, Research Department.
- Roopesh Ranjan & Tilmann Gneiting, 2010. "Combining probability forecasts," Journal of the Royal Statistical Society Series B, Royal Statistical Society, vol. 72(1), pages 71-91.
- Robert L. Winkler, 1968. "The Consensus of Subjective Probability Distributions," Management Science, INFORMS, vol. 15(2), pages B61-B75, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Cama Admin).
If references are entirely missing, you can add them using this form.