Term Premia and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset: Reply
成果类型：
Editorial Material
署名作者：
Wright, Jonathan H.
署名单位：
Johns Hopkins University
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/aer.104.1.338
发表日期：
2014
页码：
338-341
关键词：
摘要：
Bauer, Rudebusch, and Wu (2014) advocate the use of bias-corrected estimates in their comment on Wright (2011). Econometric estimation of a macro-finance VAR provides quite imprecise estimates of future short-term interest rates. Nonetheless, comparison with survey responses indicates that the proposed bias-corrected point estimates are less plausible than their maximum-likelihood counterparts.