When can we forecast inflation?

Jonas Fisher, Chin Liu and Ruilin Zhou ()

Economic Perspectives, 2002, vol. 26, issue Q I, 32-44

Abstract: This article reassesses recent work that has challenged the usefulness of inflation forecasts. The authors find that inflation forecasts were informative in 1977-84 and 1993-2000, but less informative in 1985-92. They also find that standard forecasting models, while generally poor at forecasting the magnitude of inflation, are good at forecasting the direction of change of inflation.

Keywords: Inflation (Finance); Phillips curve (search for similar items in EconPapers)
Date: 2002
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