| 000 | 00000nam 2200000za 4500 |
| 001 | 9.849167 |
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| 003 | CaOODSP |
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| 005 | 20221107153842 |
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| 007 | cr ||||||||||| |
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| 008 | 171221s2017 oncd #ob f000 0 eng d |
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| 040 | |aCaOODSP|beng |
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| 041 | |aeng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2017-60E-PDF |
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| 100 | 1 |aFeunou, Bruno. |
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| 245 | 10|aWhich model to forecast the target rate? |h[electronic resource] / |cby Bruno Feunou, Jean-Sébastien Fontaine and Jianjian Jin. |
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| 260 | |aOttawa : |bBank of Canada, |c2017. |
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| 300 | |aii, 40 p. : |bgraphs |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2017-60 |
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| 500 | |a"December 2017." |
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| 504 | |aIncludes bibliographical references. |
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| 520 | |a"Specifications of the Federal Reserve target rate that have more realistic features mitigate in-sample over-fitting and are favored in the data. Imposing a positivity constraint and discrete increments significantly increases the accuracy of model out-of-sample forecasts for the level and volatility of the Federal Reserve target rates. In addition, imposing the constraints produces different estimates of the response coefficients. In particular, a new and simple specification, where the target rate is the maximum between zero and the prediction of an ordered-choice Probit model, is more accurate and has higher response coefficients to information about inflation and unemployment"--Abstract, p. ii. |
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| 546 | |aText in English, abstract in English and French. |
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| 692 | 07|2gccst|aBanks |
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| 692 | 07|2gccst|aRates |
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| 692 | 07|2gccst|aForecasting |
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| 700 | 1 |aJin, Jianjian. |
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| 700 | 1 |aFontaine, Jean-Sébastien. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2017-60.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s600 KB|uhttps://publications.gc.ca/collections/collection_2017/banque-bank-canada/FB3-5-2017-60-eng.pdf |
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