A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC
This paper describes a new data set of the forecasts of output growth, inflation, and unemployment prepared by individual members of the Federal Open Market Committee. The paper discusses the scope of the data set, possibilities for extending it, and some potential uses. It offers a preliminary examination of some of the cross-sectional features of the data.
This paper is an outgrowth of joint work with Christina Romer, who provided invaluable suggestions and comments. In addition, David Small answered numerous inquiries, Donald Kohn and Vincent Reinhart provided helpful comments, Ioannis Tokatlidis provided research assistance, and the National Science Foundation provided financial support. The views expressed do not necessarily reflect the views of the International Monetary Fund or the National Bureau of Economic Research.
David Romer, 2010. "A New Data Set on Monetary Policy: The Economic Forecasts of Individual Members of the FOMC," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 951-957, 08. citation courtesy of