The paper examines a wide variety of models forecasting inflation, consumer survey, professional survey, judgmental …, market-derived, and monetary model. Despite differences between forecasting approaches, models produced generally similar …. Supply/demand imbalances explain much of the forecasting error from these models, especially over the short to medium term …

and forecasting and expectations shortfalls.With the development of inelastic inflation response in the mid-1990’s, risk …

evidence that these changes have helped in terms of better anchoring inflation expectations. At the same time there is no firm …