S. Miranda-Agrippino, G. Ricco - Unsurprising Shocks: Information, Premia, and the Monetary Transmis

Slides [PDF] Central banks’ decisions are a function of forecasts of macroeconomic fundamentals. Because private sector forecasts may not be aligned to central banks’ forecasts, what markets label as unexpected may contain information about the economic fundamentals.

© 2018 by Giovanni Ricco.

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