imperfect credibility and weak anchoring of long-term expectations. Within a medium-scale DSGE model, we introduce through a … determination of the central bank to leave unchanged its longterm inflation objective in the face of inflationary shocks. The … magnitude of private sector learning has been calibrated to match the volatility of US inflation expectations at long horizons …

Modern monetary policy focuses on credibility and shaping consumers' inflation expectations. According to the concept …-making process and may be a specific intermediate target. The aim of the study is to analyse the credibility of inflation forecasts … credibility index. The inflation forecasts' credibility index may be calculated for all types of inflation forecasts made by …

Inflation targeting has been adopted in a set of emerging economies, including eight countries in Latin America. The … success of this regime may depend critically on the credibility of the target and the expectation that the authorities will … take appropriate actions if the target is breached. This paper exploits a database of inflation expectations and attempts …