coefficient, monetary authority is not completely successfull in stabilizing the volatility of output, nominal rate and inflation … rate only by acting on inflation targeting. Moreover, a too strong concerns towards inflation relatively to output … translates into a lower ability to control inflation volatility, together with a strong policy reaction with respect to an …

This paper formalizes the process of updating the nowcast and forecast on output and inflation as new releases of data … Philadelphia surveys have a large marginal impact on the nowcast of both inflation variables and real variables and this effect is … sizeable. Prices and quantities affect the precision of the estimates of inflation while GDP is only affected by real variables …

co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in …

economy. Romer and Romer (2000) found that the Fed reveals information about inflation when it tightens monetary policy. Their … exclude the Fed's revelation of its asymmetric information about future inflation. …

have a stronger bargaining position when they try to prevent a cut in nominal wages. If inflation is so low that some … a long run trade off between inflation and unemployment for low levels of inflation. The prediction that low inflation …

policy literature. The extent to which these firms adjust their prices to lagged inflation has been taken as fixed. We …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …

We analyse the interaction between private agents? uncertainty about inflation target and the central bank's data … uncertainty. In our model, private agents update their perceived inflation target and the central bank estimates unobservable … economic shocks as well as the perceived inflation target. Under those two uncertainties, the learning process of both private …