may have been temporarily boosted. However, demand pressures would have probably been greater and inflation higher. In … particular, results suggest that over the latter part of the 1990s annual inflation would have been around 1 percentage point …, then the variability of inflation and output would increase over the business cycle …

This paper evaluates inflation forecasts made by Norges Bank which is a successful forecast targeting central bank. It … is expected that Norges Bank produces inflation forecasts that are on average better than other forecasts, both "naive … terms of too high speed of adjustment to the inflation target is supported by the evidence. Norges Bank's forecasts are …