Goodhart, C. A. E. (2023) Should central banks abandon single point forecasts? VoxEU.
Full text not available from this repository.Abstract
Single point forecasts for growth, inflation, interest rates, and so on are easy to comprehend and to check against outcomes, and are what otherwise busy politicians want. This column argues that they are not what central banks should provide. Instead, they should present scenarios of what might happen if conditions turn out to be better or worse, with some kind of prediction both for interest rates and inflation in each case. The time to make the change is not now, however, but when the target has been regained on average for a year or two.
| Item Type: | Article |
|---|---|
| Official URL: | https://cepr.org/voxeu/columns |
| Additional Information: | © 2023 CEPR |
| Divisions: | Financial Markets Group |
| Subjects: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
| Date Deposited: | 30 Aug 2023 12:45 |
| Last Modified: | 14 Sep 2024 03:53 |
| URI: | http://eprints.lse.ac.uk/id/eprint/120087 |
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