Template-type: ReDIF-Paper 1.0
Author-Name: Marlene Amstad
Author-Name-First: Marlene
Author-Name-Last: Amstad
Author-Person: pam86
Author-Name: Andreas M. Fischer
Author-Name-First: Andreas M.
Author-Name-Last: Fischer
Author-Person: pfi23
Title: Are Weekly Inflation Forecasts Informative?
Abstract: Are weekly inflation forecasts informative? Although several central banks review and discuss monetary policy issues on a bi-weekly basis, there have been few attempts by analysts to construct systematic estimates of core inflation that supports such a decision-making schedule. The timeliness of news releases and macroeconomic revisions 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 find that it is worthwhile to update the forecast at least twice a month.
Length: 43 pages
Creation-Date: 2008
Contact-Email: forschung@snb.ch
File-URL: https://www.snb.ch/en/publications/research/working-papers/2008/working_paper_2008_05
File-Format: text/html
Number: 2008-05
Classification-JEL: E52, E58
Keywords: Inflation, Common Factors, Sequential Information Flow
Handle: RePEc:snb:snbwpa:2008-05