Are inflation targets good inflation forecasts?

Marie Diron () and Benoit Mojon

Economic Perspectives, 2008, vol. 32, issue Q II, 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
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Citations: View citations in EconPapers (16)

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