An evaluation of the predictions of the Federal Reserve

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Macroeconomic Forecasting With Mixed-Frequency Data (2008, background): “For example, the staff of the Board of Governors of the Federal Reserve prepare forecasts several times each quarter for the meetings of the Open Market Committee (see Karamouzis and Lombra 1989; Joutz and Stekler 2000).”
An alternative explanation of the price puzzle (2004, unknown): “Yt, πt, and it are perfectly collinear and choosing between (10) and (11) is a matter of taste.”