The formation of expectations: Some evidence from weekly money supply forecasts |
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| Authors: | R.W. Hafer |
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| Affiliation: | Federal Reserve Bank of St. Louis, St. Louis, MO 63166, USA |
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| Abstract: | This paper investigates the expectations formation process of weekly money supply forecasts derived from survey data. The evidence indicates that forecaster's expectations are modelled best as regressive. Moreover, the results are unaffected by the October 1979 change in monetary operating procedures. |
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