An Alternative Explanation for the “Fed Information Effect”
An Alternative Explanation for the “Fed Information Effect”
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Language
English
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Contents
Regressions of private-sector macroeconomic forecast revisions on monetary policy surprises often produce coefficients with signs opposite to standard macroeconomic models. The “Fed information effect” argues these puzzling results are due to monetary policy surprises revealing Fed private information. We show they are also consistent with a “Fed r...
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Full title
An Alternative Explanation for the “Fed Information Effect”
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TN_cdi_crossref_primary_10_1257_aer_20201220
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_primary_10_1257_aer_20201220
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ISSN
0002-8282
DOI
10.1257/aer.20201220