Are Weekly Inflation Forecasts Informative?

16 Pages Posted: 27 Apr 2009

See all articles by Marlene Amstad

Marlene Amstad

The Chinese University of Hong Kong, Shenzhen

Andreas M. Fischer

Swiss National Bank; Centre for Economic Policy Research (CEPR)

Date Written: 0000

Abstract

Are weekly inflation forecasts informative? Although several central banks review and discuss monetary policy issues on a bi-weekly basis, there have been no attempts by analysts to construct systematic estimates of core inflation that supports such a decision-making schedule. The timeliness of news releases are recognized to be an important information source in real-time estimation. We incorporate real-time information from macroeconomic releases and revisions into our weekly updates of monthly Swiss core inflation using a common factor procedure. The weekly estimates for Swiss core inflation show that it is worthwhile to update the forecast at least twice a month.

Suggested Citation

Amstad, Marlene and Fischer, Andreas M., Are Weekly Inflation Forecasts Informative? (0000). Oxford Bulletin of Economics and Statistics, Vol. 71, Issue 2, pp. 237-252, April 2009. Available at SSRN: https://ssrn.com/abstract=1378500 or http://dx.doi.org/10.1111/j.1468-0084.2008.00523.x

Marlene Amstad

The Chinese University of Hong Kong, Shenzhen ( email )

Andreas M. Fischer

Swiss National Bank ( email )

Borsenstrasse 15
CH-8022 Zurich
Switzerland
+41 1 631 3294 (Phone)
+41 1 631 3901 (Fax)

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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