| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060583 | Economics Letters | 2012 | 4 Pages |
Abstract
⺠We evaluate the private-sector forecasts of the Brazilian interest rate targets. ⺠Our examination tests the rationality of the forecasts under flexible loss. ⺠We find that the private forecasts are rational (efficient) under symmetric loss. ⺠Such findings suggest the public perceives the Brazilian central bank as credible. ⺠This positive outcome may be due to more transparency under inflation targeting.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Hamid Baghestani, Cassia Marchon,