Are inflation targets good inflation forecasts?

Marie Diron () and Benoit Mojon ()

Economic Perspectives, 2008, issue Q II, pages 33-45

Abstract: 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.

Keywords: Inflation; (Finance) (search for similar items in EconPapers)
Date: 2008
View list of references View citations in EconPapers

Downloads: (external link)
http://www.chicagofed.org/publications/economicper ... art3_diron_mojon.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:fip:fedhep:y:2008:i:qii:p:33-45:n:v.32no.2

Ordering information: This journal article can be ordered from
http://www.frbchi.or ... nt_order_script.html

Access Statistics for this article

More articles in Economic Perspectives from Federal Reserve Bank of Chicago
Contact information at EDIRC.
Series data maintained by Diane Rosenberger ().