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RBA Glossary definition for SEP

SEP – Summary of Economic Projections

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Introduction

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
These assessments, which are reported in the Summary of Economic Projections (SEP) that accompanies the FOMC minutes once a quarter, provide two types of information about forecast uncertainty. ... Specifically, the SEP reports the root mean squared
https://www.rba.gov.au/publications/rdp/2017/2017-01/introduction.html

Data Sources

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
Mar (Q1 SEP),. Jun (Q2 SEP),. Sep (Q3 SEP),. Dec (Q4 SEP). ... Mar (Q1 SEP),. Jun (Q2 SEP),. Sep/Oct (Q3 SEP),. Dec (Q4 SEP).
https://www.rba.gov.au/publications/rdp/2017/2017-01/data-sources.html

Gauging the Uncertainty of the Economic Outlook Using Historical Forecasting Errors: The Federal Reserve's Approach

1 Feb 2017 RDP 2017-01
David Reifschneider and Peter Tulip
Mar (Q1 SEP),. Jun (Q2 SEP),. Sep (Q3 SEP),. Dec (Q4 SEP). ... Mar (Q1 SEP),. Jun (Q2 SEP),. Sep/Oct (Q3 SEP),. Dec (Q4 SEP).
https://www.rba.gov.au/publications/rdp/2017/2017-01/full.html

Fan Charts

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
Figure 3 provides an illustrative example of error-based fan charts for the SEP projections. ... Figure 3. Median September 2016 SEP Projections and Uncertainty About the Economic Outlook.
https://www.rba.gov.au/publications/rdp/2017/2017-01/fan-charts.html

Methods for Gauging Uncertainty

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
Most FOMC participants have judged the economic outlook to be more uncertain than normal in well over half of SEPs published since late 2007. ... A majority has also assessed the risks to some aspect of the economic outlook to be skewed to the upside or
https://www.rba.gov.au/publications/rdp/2017/2017-01/methods-for-gauging-uncertainty.html

Estimation Results

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
This similarity has important implications for the SEP methodology because it means that errors made by other forecasters can be assumed to be representative of those that might be made by ... Another key assumption underlying the SEP methodology is that
https://www.rba.gov.au/publications/rdp/2017/2017-01/estimation-results.html

Collecting Historical Forecast Data

8 Mar 2017 RDP 2017-01
David Reifschneider and Peter Tulip
For several reasons, however, the approach taken in the SEP also takes account of the projection errors of other forecasters as well.
https://www.rba.gov.au/publications/rdp/2017/2017-01/collecting-historical-forecast-data.html