Combined forecasts to improve Survey of Profession Forecasters predictions for quarterly inflation in the U.S.A.

The main aim of this study is to evaluate and improve the Survey of Professional Forecasters (S.P.F.) quarterly inflation rate forecasts. According to the Diebold–Mariano test, on the horizon 1991:Q1–2015:Q1, there were no significant differences in accuracy between the four types of predictions provided by SPF (mean forecasts, median predictions, predictions of financial service providers [f1] and predictions of non-financial service providers...