A la mode
Article Abstract:
The Bank of England presents inflation forecasts as a fan chart, and this can be misleading. The Bank uses the mode as the type of average when calculating probabilities, and the median and mean approaches are not used. This could be a problem if there is more of a risk that inflation could rise than that it could fall. Using the median means that the inflation forecast appears to be higher looking at the central band, due to a higher level for the median than for the mode.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Fighting America's inflation flab
Article Abstract:
Issues related to the measurement and control of inflation in the US are examined in detail.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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Measure for measure
Article Abstract:
Changes in the way that inflation has been measured in Britain are examined in detail.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2000
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