Essentially following the procedure of the previous post -- fitting the price level function P to data from 1960 to a year Y, and then log-linearly extrapolating NGDP and M0 (currency) from Y to 2014 to find P(y>Y) and the inflation rate i(y>Y) = d log P/dt
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Inflation prediction errors
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Essentially following the procedure of the previous post -- fitting the price level function P to data from 1960 to a year Y, and then log-linearly extrapolating NGDP and M0 (currency) from Y to 2014 to find P(y>Y) and the inflation rate i(y>Y) = d log P/dt