expected inflation. To test this question two sets of inflation forecasts for the U.S. and five European countries were … generated: 1) from time series of past inflation rates;2) by forecasting real rates from time series of past real rates and … subtracting these forecasts from nominal rates. The accuracy of the two sets of inflation forecasts was compared. The results …

in their degree of inflation protection. This paper conducts this exercise from the viewpoint of modem finance theory … inflation protection. A contributing factor is the apparent belief that standardizing actuarial assumptions is sufficient to … ensure comparability, in spite of the fact that risk is ignored and that interest rate and inflation assumptions are …

a broad cross-section of countries inflation volatility has fallen markedly while output variability has either fallen … changes to these two factors. Our technique involves estimating movements toward an inflation and output variability …

probability of being a common currency country and outcome' equations for growth, volatility and inflation. We find that both type … of common currency countries have lower inflation than countries with a domestic currency. Dollarized countries have …

We define the Fisherian Golden Rule measure of bond market inflation expectations as the difference between bond rates … and trend real GDP growth rates. The concept is based on the Fisherian theory that an increase in longer-term inflation … rates of interest would equal the growth rate of real output. We compare the bond market inflation experiences of 13 …