In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework.Learning … Evans and Honkapohja (2001), the learning scheme we investigate is that of least-squares learning (recursive OLS) using the … Kalman filter.We find that optimal monetary policy under learning is a policy that separates estimation and control …

which the central bank has to learn the private sector inflation forecasting rule.Here, the learning scheme we investigate … is that of least-squares learning (recursive OLS) using the Kalman filter.With imperfect knowledge, results depend on the … learning scheme that is employed.A novel feature of the passive learning policy - compared to the central bank s disinflation …