Journal Article
Are inflation targets good inflation forecasts?
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);
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2008
Volume: 32
Issue: Q II