Chilean paper finds central bank’s forecasts influence private sector expectations

central-bank-of-chile

Private sector forecasters incorporate information from the Central Bank of Chile's inflation forecasts when forming inflation expectations, a working paper published yesterday by the central bank has found.

What Affects the Predictions of Private Forecasters? The Role of Central Bank Forecasts by Michael Pedersen uses data from the Central Bank of Chile's economic expectations survey to gauge the private sector response to changes in the central bank's forecasts. Pedersen finds that while

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