the Taylor rule is beneficial if the central bank aims at optimally stabilizing inflation and output gap variability under … discretion. Placing a weight on deviations from a simple Taylor rule increases the overall relative weight of inflation …

deciding about interest rate policy, members individually formulate regular inflation forecasts. This paper uncovers systematic … differences in individual inflation forecasts submitted by voting and non-voting members. Based on a data set with individual … forecasts recently made available it is shown that non-voters systematically overpredict inflation relative to the consensus …

deciding about interest rate policy, members individually formulate regular inflation forecasts. This paper uncovers systematic … differences in individual inflation forecasts submitted by voting and non-voting members. Based on a data set with individual … forecasts recently made available it is shown that non-voters systematically overpredict inflation relative to the consensus …

the Taylor rule is beneficial if the central bank aims at optimally stabilizing inflation and output gap variability under … discretion. Placing a weight on deviations from a simple Taylor rule increases the overall relative weight of inflation …

on individual forecasts for unemployment and inflation submitted by each individual FOMC member, which was recently made … policymakers were aware of these changes in real-time. -- inflation forecast ; NAIRU ; Phillips curve ; monetary policy ; Federal …

the Taylor rule is beneficial if the central bank aims at optimally stabilizing inflation and output gap variability under … discretion. Placing a weight on deviations from a simple Taylor rule increases the overall relative weight of inflation …

In this paper we systematically evaluate how central banks respond to deviations from the inflation target. We present … a stylized New Keynesian model in which agents' inflation expectations are sensitive to deviations from the inflation … inflation exceeded the target in the past. Moreover, the central bank responds non-linearly to past inflation gaps. This is …