Year: 2013
Author: Croonenbroeck, Carsten
Credit and Capital Markets – Kredit und Kapital, Vol. 46 (2013), Iss. 1 : pp. 79–93
Abstract
Evaluating Phillips Curve Based Inflation Forecasts in Europe: A Note
We run out-of-sample forecasts for the inflation rate of 15 euro-zone countries using a NAIRU Phillips curve and a naive reference model. Comparisons show that the naive model returns better forecasts in almost all cases. We provide evidence that the Phillips curves" goodness of fit is rather high. However, forecasting power is comparatively low. (C53, E31, E37)
Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/kuk.46.1.79
Credit and Capital Markets – Kredit und Kapital, Vol. 46 (2013), Iss. 1 : pp. 79–93
Published online: 2013-01
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 15