Are inflation targets good inflation forecasts?

The authors show that quantified inflation objectives, which have been adopted by many industrialized countries, can be used as rule-of-thumb forecasting devices. Remarkably, they yield smaller forecast errors than widely used forecasting models and the forecasts of professional experts.

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Year of publication:	2008
Authors:	Diron, Marie ; Mojon, Benoît
Published in:	Economic Perspectives. - Federal Reserve Bank of Chicago. - 2008, Q II, v. 32, no. 2, p. 33-45
Publisher:	Federal Reserve Bank of Chicago
Subject:	Inflation (Finance)

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

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