Inflation, Real Economic Growth and Unemployment Expectations: An Empirical Analysis Based on the ECB Survey of Professional Forecasters
Documentos De Economía Y Finanzas Internacionales, Working Papers on International Economics and Finance, DEFI 17-02, February 2017
29 Pages Posted: 11 Mar 2017
Date Written: February 2017
Expectations are at the centre of modern macroeconomic theory and policymakers. In this paper, we examine the predictive ability and the consistency properties of macroeconomic expectations using data of the European Central Bank (ECB) Survey of Professional Forecasters (SPF).
Keywords: inflation, real economic growth, unemployment, expectations, euro area
JEL Classification: F31, E31, D84
Suggested Citation: Suggested Citation