Inflation Expectations in Latin America

This paper tests the rationality of inflation forecasts surveyed in Mexico, Brazil, and Chile and identifies their recent formation rule. There is strong evidence that forecasts are unbiased, but forecasters have not been fully efficient in the use of available information. The paper assesses the importance of inflation targets to anchor inflation expectations in these countries and finds that in most cases there is room for improvement in credibility.

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Year of publication:	2006
Authors:	Carvalho, Fabia A de ; Bugarin, Mauricio S.
Published in:	ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION. - ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION. - 2006
Publisher:	ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION
Subject:	inflation forecasts \| Mexico \| Brazil \| Chile

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Type of publication:	Article
Classification:	E31 - Price Level; Inflation; Deflation ; E37 - Forecasting and Simulation ; C53 - Forecasting and Other Model Applications
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009021282