Orphanides, Athanasios (contributor); … - 2002 - [Elektronische Ressource]
rate of unemployment,
we compare inflation forecast errors using a simple Phillips curve model in which inflation
depends … outperform (that is, have a lower
forecast standard error than) the AR(4) speci cation, but inflation forecasting accuracy is … forecast improvement from including the unemployment gap is based on within-
sample performance. The usefulness of unemployment …