A common practice in studies using inflation forecasts is to approximate fixed-horizon forecasts with fixed-event ones. Here we show that this may be problematic. In a panel of US inflation forecast data that allows us to compare the two, the approximation results in a mean absolute...

This paper investigates how solidly inflation expectations are anchored in Asia, using inflation forecasts by professional forecasters from Consensus Economics. We examine inflation expectations using three different methods. First, we assess the behaviour of longer-term (both five-year-ahead...