(2020), “Does Austerity Pay Off?”, Review of Economics and Statistics, Vol. 102(2), pp. 323-338; and Auerbach, A. J. and Gorodnichenko, Y. (2017), “Fiscal Stimulus and Fiscal Sustainability”, NBER Working Paper Series, No 23789. 20. Schnabel, I.
Importantly, the forecasters are also asked to provide their medium-term (5-years) and long-term (10-years) forecasts of GDP, WPI and CPI-IW. Fifth, apart from the households and the professional forecasters’ inflation expectations, the Reserve Bank captures another measure of inflation expectations – those from the producers. These sentiments are captured from a business outlook survey which is being conducted on a quarterly basis since 1998.