D'Amato, Laura; Garegnani, María Lorena; Blanco, Emilio - 2008
Inflation forecasting plays a central role in monetary policy formulation. At the same time, recent international … empirical evidence suggests that with the decline in inflation of recent years, the joint dynamics of this variable and its … potential predictors has changed and inflation has become more unpredictable. Using a univariate model as a benchmark, we …