Paper: Evaluation the Efficiency of the FOMCs New Economics Projections
Author: Natsuki ARAI (Contact: natsuki.ar@gmail.com)
Journal: Journal of Money, Credit and Banking
Date: 9/15/2015
Folder Title: Size and Power

Description of the files contained in the folder:

Matlab Files:
1. McMain: Main code for Monte Carlo exercise

Matlab Function files:
2. MonteCarlo: Computing artificial forecast revisions based on the estimates of VAR
3. McInf: Computing p-values for artificial projections
4. rSquare: Computing R square of artificial projections
5. Bias: Computing the bias of forecasts
6. AuCo: Computing the autocorrelation of forecasts
7. Wald: Computing the Wald statistic of forecasts
8. SigMat: Transforming the values of forecast revisions into the signs of forecasts revisions 
9. RevTest: Computing the p-value based on the positive sign test
10. ConRevTest: Computing the p-value based on the signs of consecutive revisions test
11. OrgPj: Organizing the FOMCs projections for the bootstrap inference

Matlab Data Files:
12. Cen Tend: Data of central tendency in the FOMCs economic projections
13. Range: Data of range in the FOMCs economics projections
14. Monte: Historical data of 
