long, averaging window can attain most of the welfare gain from PLT. Under boundedly-rational expectations, if cognitive …

help anchoring inflation expectations. We use survey data on long-term inflation expectations in 15 industrial countries … since the early nineties to investigate how well anchored are inflation expectations. We find that in all countries except … Japan long-term inflation expectations are well anchored and, generally, increasingly so over the past decade. When …

end up generating a systematic inflation bias through the private sector expectations of a larger policy response in …

monetary policy. Standard rational expectations models can have alternative steady states as well as non-unique laws of motion …

This paper employs stochastic simulations of a small structural rational expectations model to investigate the …

target types affect the anchoring of inflation expectations at shorter horizons differently. It tests two contradictory …. This suggests that there are some benefits to adopting intervals, but the central bank can anchor inflation expectations …

Is there a systematic mapping between the Federal Reserve's expectations of macro variables and the words it uses to …