01878cas a2200253 a 4500 AALejournalIMF016087 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513522005 1018-5941 BD-DhAAL BD-DhAAL Veyrune, Romain. Autonomous Factor Forecast Quality : The Case of the Eurosystem / Romain Veyrune, Shaoyu Guo. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (40 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The publication of liquidity forecasts can be understood as part of central banks' push toward greater transparency regarding monetary policy implementation. However, the advantages of transparency can only be realized if the information provided is accurate and reliable. This paper (1) provides an overview of the international practice of publishing the forecasts; (2) proposes and implements a framework to evaluate the accuracy and reliability of forecasts using the long history of Eurosystem forecasts as a case study; and (3) analyzes the Eurosystem forecast errors to determine the factors influencing forecast quality. A supporting factor for a high-quality forecast is the contemporaneousness of the information used, whereas money market segmentation can weigh on forecast quality. Mode of access: Internet Guo, Shaoyu. IMF Working Papers; Working Paper ; No. 2019/296 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/296/001.2019.issue-296-en.xml IMF e-Library