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Forecasts, indicators and monetary policy

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  • Keith Sill

Abstract

When setting monetary policy, should policymakers target variables such as commodity prices or interest rate spreads, which are sensitive to the market's expectations of inflation? Or are variables such as money growth, which are tied to the underlying causes of inflation and economic growth, better indicators of the economy's path? Keith Sill considers these questions as he reviews indicators past and present

Suggested Citation

  • Keith Sill, 1999. "Forecasts, indicators and monetary policy," Business Review, Federal Reserve Bank of Philadelphia, issue May, pages 3-14.
    • Handle: RePEc:fip:fedpbr:y:1999:i:may:p:3-14
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/1999/may-june/brmj99ks.pdf
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    References listed on IDEAS

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    Cited by:

    1. Berlemann, Michael, 2001. "Forecasting inflation via electronic markets: Results from a prototype market," Dresden Discussion Paper Series in Economics 06/01, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    2. Sharon Kozicki, 2001. "Why do central banks monitor so many inflation indicators?," Economic Review, Federal Reserve Bank of Kansas City, vol. 86(Q III), pages 5-42.

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