Directorio de organismos nacionales a cargo de las políticas y programas para las mujeres de América Latina y el Caribe = Directory of national organizations dealing with programmes and policies on women in Latin America and the Caribbean

Publicación bilingüe

The low predictive power of simple Phillips curves in Chile

This study uses some backward-looking versions of Phillips curves, estimated from both revised and real-time data, to explore the existence, robustness and size of the contribution that a variety of activity measures may make to the task of predicting inflation in Chile. The main results confirm the findings of the recent international literature: the predictive power of the activity measures considered here is episodic, unstable and of moderate size. This weak predictive contribution is robust to the use of final and real-time data.