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In an experimental setting impulse-response behaviour in intuitive inflation forecasting is analysed. Participants were asked to forecast future values of inflation for a fictitious economy after receiving charts and lists of past values of inflation and output gap. Thirty periods were...
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Producing and revealing inflation forecasts is believed to be the best way of implementing a forward-looking monetary policy. The article focuses on inflation forecast targeting (IFT) at the Czech National Bank (CNB) in terms of its efficiency in shaping consumers' inflation expectations. The...
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