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Has US inflation really become harder to forecast?
Jani Luoto , 2012, vol. 115, issue 3, pages 383-386
Economics Letters Abstract:
Since the mid-1980s, Phillips curve forecasts of US inflation have been inferior to those of a conventional causal autoregression. However, little change in forecast accuracy is detected against the benchmark of a noncausal autoregression, more accurately characterizing US inflation dynamics.
Keywords: Inflation forecast; Noncausal time series; Phillips curve (search for similar items in EconPapers)
JEL-codes: C22 C53 E31 (search for similar items in EconPapers)
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Related works: Working Paper: Has U.S. Inflation Really Become Harder to Forecast? (2010) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:3:p:383-386
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