NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Are Central Banks' Projections Meaningful?

Jordi Galí

NBER Working Paper No. 16384
Issued in September 2010

---- Acknowledgements -----

I am grateful for comments and suggestions to the editor Marty Eichenbaum, two anonymous referees, Marc Giannoni, Frank Smets, Lars Svensson, Raf Wouters and participants at the CREI Faculty Lunch, SNB Monetary Policy Conference, and SED Meetings (Cambridge, MA). Davide Debortoli and Tomaz Cajner provided excellent research assistance. I am also grateful to the Government of Catalonia and the Ministerio de Ciencia y Tecnología for financial support. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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