Annual infation is computed using the consumer price index (CPI), the twelve months included in this calculation are weighted equally. Consequently, price variations during the period analyzed may lead to an underestimation or overestimation of the signifcance of the information included in the…
Martinez-Rivera, Wilmer Osvaldo
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- Publicación |Nowcasting inflation is not only considered an alternative measure of observed inflation, but also a predictor, which allows for constructing inflation forecasts with better performance
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We propose to assess the performance of k forecast procedures by exploring the distributions of forecast errors and error losses. We argue that non systematic forecast errors minimize when their distributions are symmetric and unimodal, and that forecast accuracy should be assessed through…
