exclusively on the anchoring of short- to medium-term inflation expectations (Part 2). Several measures show that this anchoring … expectations has on the determination of the short- to medium-term inflation rate. From this point of view, observed inflation in … on the other aspect of monetary stability: the degree of price-level uncertainty and the anchoring of inflation …

tolerance range policies, characterized by a stronger reaction of the centralbank to inflation when inflation lies outside the … strong reaction, when inflation is far fromthe target, is required to compensate a moderately lower reaction within tolerance …

more persistent and slightly stronger response to inflation and output than the US optimal policy …

the GMM are biased in small sample, inducing an overestimate of the inflation parameter. The two-step GMM estimates are …

to the possible inflation bias; second, it enables us to model more satisfactorily the reputation of the central bank by … accounting for the coordination of the private agents on the punishment length. Our results suggest that the inflation bias and …

Whereas the bulk of the literature on DSGE models provides a rationale for inflation targeting strategies, there is no … inflation, eventually accounting for structural shifts in velocity; 4) we found some evidence that the ECB has reacted …