evolution of the persistence and predictability of inflation relative to a trend component. Using a standard sticky-price model …, we show that a more aggressive policy stance towards inflation causes a decline in inflation predictability, providing a …

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear … distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be … broader, ultimately more meaningful concept of longerterm predictability also encompasses the ability of the private sector to …

considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical …

considers the evidence on return predictability, risk aversion and market efficiency. The paper then focuses on the theoretical …