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.
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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:
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