We evaluate and compare alternative monetary policy rules, namely average inflation targeting, price level targeting …, and traditional inflation targeting rules, in a standard New Keynesian model that features recurring, transient zero lower … promotes determinacy and E-stability among the policy frameworks, whereas standard inflation targeting rules are prone to …

Monetary policy increasingly relies on steering market expectations about future policy. This paper identifies a … improves sentiment and business cycle expectations in the euro area, which is consistent with the notion of the Fed revealing …

long, averaging window can attain most of the welfare gain from PLT. Under boundedly-rational expectations, if cognitive …

stabilize economic growth and in ation expectations through the signaling channel. In doing so, we assess survey …-based expectations data for up to 44 economies from 2002 to 2017 and analyze the impact of the adoption of a negative interest rate … policy on expectations made by professionals based on a difference-in-differences approach. Our main findings are as follows …