relationship between uncertainty of inflation persistence and optimal monetary policy and discusses the consequences of the recent … Blanchard proposal to implement a higher inflation target in the light of parameter uncertainty. Furthermore, it provides …-orthogonal parameter uncertainty. -- inflation persistence ; parameter uncertainty ; inflation target ; dynamic programming …

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 …

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 …