Norges Bank paper studies forecast asymmetry at lower bound
Effective lower bound need not translate into asymmetries in other forecast variables, authors find
Researchers have found that forecasts of key variables need not be asymmetric even when the central bank is operating at or near the effective lower bound, according to a report published on September 16.
The authors of the Norges Bank working paper, Andrew Binning and Junior Maih, argue other studies have reached different results to theirs partly because of the modelling choices of the researchers. By adopting a regime-switching dynamic stochastic general equilibrium (DSGE) approach, they
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