Skip to main content

Multimodality and mixture distributions: an application to a Survey of Economic Expectations

Buy Article:

$53.17 plus tax (Refund Policy)


In this article we present the Silverman multimodality test and mixture distributions methodology, applying both approaches to the Survey of Economic Expectations of the Central Bank of Chile. The main results reflect the importance of a permanent monitoring of the complete distributions and not just central tendency meausures as is the practice in many central banks currently. We find that the forecasts of the private professional forecasters have systematically been in line with the inflation targeting range, although during episodes where the effective inflation proved to be outside the target range.

Keywords: C49; E00; expectations; mixture of distributions; multimodality test; survey of professional forecasters

Document Type: Research Article


Affiliations: 1: Department of Economics, Georgetown University, Washington,DC 20057, USA 2: Department of International Markets, Central Bank of Chile, Santiago, Chile

Publication date: May 1, 2013

More about this publication?

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more