An Operational Framework for the Short-Term Forecasting of Inflation

Economic Bulletin, No. 29, October 2007

18 Pages Posted: 8 Mar 2018

See all articles by Maria Albani

Maria Albani

Bank of Greece

Zacharias Bragoudakis

Bank of Greece; National and Kapodistrian University of Athens, Department of Economics

Nicholas Zonzilos

Bank of Greece

Multiple version iconThere are 2 versions of this paper

Date Written: 2007

Abstract

The main purpose of this paper was to achieve a judicious blend and an effective conjunction of purely judgmental forecasts and mechanical projections which take into account the determinants of inflation. The empirical results of the paper suggest that, for the current as well as for the upcoming month, inflation forecasting is more accurate when performed on a judgmental basis by price experts.

Keywords: Inflation, Forecasting, Loss Functions

JEL Classification: C32, C51, C52

Suggested Citation

Albani, Maria and Bragoudakis, Zacharias and Zonzilos, Nicholas, An Operational Framework for the Short-Term Forecasting of Inflation (2007). Economic Bulletin, No. 29, October 2007, Available at SSRN: https://ssrn.com/abstract=3128075

Maria Albani

Bank of Greece ( email )

21 E. Venizelos Avenue
GR 102 50 Athens
Greece

Zacharias Bragoudakis (Contact Author)

Bank of Greece ( email )

21 E. Venizelos Avenue
GR 102 50 Athens
Greece
+302103203605 (Phone)

National and Kapodistrian University of Athens, Department of Economics ( email )

Sofocleous 1
Athens, 105 59
Greece
+30 21 0368 9400 (Phone)

HOME PAGE: http://www.econ.uoa.gr/

Nicholas Zonzilos

Bank of Greece ( email )

21 E. Venizelos Avenue
GR-10250 Athens
Greece

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