This paper examines the value of direct communication to households about inflation and the uncertainty around … inflation statistics. All types of information about inflation are effective at immediately managing inflation expectations …, with information about outlooks being more effective and more relevant than that about recent inflation and Bank targets …

equilibrium exists. We study the response differences in the dynamics of the inflation rate to changes in the mean and variance of … the Great Recession, in which the effects of greater model uncertainty may have played a role in keeping inflation rates …

We examine the relationship between inflation and inflation uncertainty using a GARCH model that allows for … simultaneous feedback between the conditional mean and variance of inflation. We also derive a number of theoretical econometric … results and illustrate the relevance of these results with an empirical example of the US monthly inflation process. Our …