Tatay, Tibor; Kotosz, Balázs - In: Public Finance Quarterly 58 (2013) 4, pp. 434-451
review the system of inflation targeting applied by the Hungarian central bank in the past ten years, as well as the … modelling framework supporting the making of monetary policy decisions. Many input variables of inflation forecast models are … walk process on the time horizon of inflation targeting, thereby their future values cannot be predicted. Our final …