Working Paper: NBER ID: w10089
Authors: Eric M. Leeper
Abstract: This paper evaluates the Swedish Riksbank's Inflation Reports' and draws comparisons among the Reports issued by the Riksbank, the Bank of England, and the Reserve Bank of New Zealand. This report poses and addresses a common set of questions about each of the three central banks' Inflation Reports'. It assesses the credibility of inflation forecasts, evaluates the Reports' discussions of the current state of the economy, asks if a coherent set of models underlies the Reports, and discusses whether the Reports hold the banks sufficiently accountable for their decisions.
Keywords: No keywords provided
JEL Codes: E4; E5
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| clarity of communication by the banks (G21) | credibility of inflation forecasts (E31) |
| lack of a coherent model underlying the reports (D80) | confusion regarding the forecasts (C53) |
| higher accountability (M48) | improved policy outcomes (D78) |