Pierdzioch, Christian; Rülke, Jan-Christoph; … - In: Economics Letters 129 (2015) C, pp. 66-70
We study the rationality of the inflation forecasts of the central banks of Argentina, Brazil, Chile, and Mexico. We reject rationality under a symmetric (Chile is an exception) but not under an asymmetric loss function. An overprediction implies a larger loss than an underprediction. We also...