Every month the commercial banks in Iceland publish their inflation forecast for the coming month. This paper examines how accurate these forecasts were from 2000 to 2006. Most of the forecasts have similar accuracy where the inflation rate in the month in question is underestimated by 2 to 6...

The National Economic Institute in Iceland was a government institute responsible for producing and publishing a national economic forecast. The institute was closed in 2002. This paper measures the accuracy of the institute's forecasts from 1981-2002. The paper measures the accuracy of the GDP...