Ifo Survey Data in Business Cycle and Monetary Policy Analysis

A pilot—ying to a distant city needs to check his position,—ight path and weather conditions, and must constantly keep his plane under control to land safely.The Ifo survey data provide advance information on changingeconomic weather conditions and help keep the economy under control. To be sure, by their very nature they only provide short-term information. But like a plane, the economy will not be able to reach its long-term goals if it strays o? course in the short term. The Ifo survey d...