Riksbank paper examines mixed forecast performance
Central bank has been overly optimistic but roughly as accurate as others
Researchers at Sveriges Riksbank find the central bank's forecasts of foreign economic activity have tended to be overly optimistic, in a paper published on November 4.
The economic commentary, An assessment of the Riksbank's international forecasts, notes that as a small open economy, Sweden's ability to forecast overseas economies is particularly important.
However, after studying the mean error and root mean squared error (RMSE) of forecasts, authors Ted Aranki and André Reslow find the
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