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Applied Economics Letters Volume 28, 2021 - Issue 12
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Research Article

Multivariate asymmetric loss functions of the European Central Bank

Yoichi TsuchiyaGraduate School of International Cultural Studies, Tohoku University, Sendai, JapanCorrespondence[email protected]
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Pages 1026-1030 | Published online: 20 Jul 2020

References

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  • ECB. 2016. A Guide to Eurosystem/ECB Staff Macroeconomic Projection Exercises. European Central Bank.
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  • Nobay, R. A., and D. A. Peel. 2003. “Optimal Discretionary Monetary Policy in a Model of Asymmetric Central Bank Preferences.” The Economic Journal. 113:657–665. doi:10.1111/1468-0297.t01-1-00149
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  • Pierdzioch, C., J.-C. Rülke, and G. Stadtmann. 2015. “Central Banks’ Inflation Forecasts under Asymmetric Loss: Evidence from Four Latin-American Countries.” Economics Letters. 129:66–70. doi:10.1016/j.econlet.2015.02.014
  • Pierdzioch, C., J.-C. Rülke, and P. Tillmann. 2016. “Using Forecasts to Uncover the Loss Function of Federal Open Market Committee Members.” Macroeconomic Dynamics. 20(3):791–818. doi:10.1017/S1365100514000625
  • Rülke, J.-C. 2012. “Are Central Bank Projections Rational?” Applied Economics Letters. 19(13):1257–1263. doi:10.1080/13504851.2011.619482
  • Wang, Y., and T.-H. Lee. 2014. “Asymmetric Loss in the Greenbook and the Survey of Professional Forecasters.” International Journal of Forecasting. 30(2):235–245. doi:10.1016/j.ijforecast.2013.07.017

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