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Abstract We propose a new measure of macroeconomic disagreement, using dispersions of forecasts of a wide range of financial, activity and inflation variables from both household and professional surveys at… Click to show full abstract
Abstract We propose a new measure of macroeconomic disagreement, using dispersions of forecasts of a wide range of financial, activity and inflation variables from both household and professional surveys at various frequencies. With a mixed-frequency state-space model, we construct macroeconomic disagreement estimates of the one-year ahead expected state of the economy. Impulse responses show disagreement shocks lead to a contraction in economic activity.
Keywords:
disagreement;
macroeconomic disagreement;
measuring macroeconomic;
disagreement mixed;
mixed frequency
Journal Title: Journal of Economic Behavior and Organization
Year Published: 2021
Link to full text (if available)
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Journal Title: Journal of Economic Behavior and Organization
Year Published: 2021
Link to full text (if available)
Share on Social Media: Sign Up to like & get
recommendations!