inflation under control, and by the adoption of monetary rules tied to expectations rather than current macroeconomic conditions …This paper studies the role of expectations and monetary policy on the economy's response to climate actions. We show … mitigation tool, with a carbon tax entailing more emissions uncertainty than in a rational expectations model and a cap …

Inflation expectations are key determinants of economic activity and are central to the current policy debate about … whether inflation expectations will remain anchored in the face of recent pandemic-related increases in inflation. This paper … expectations if actual inflation remains high. …

characterize the expected path of nominal and real short-rates as well as inflation using the universe of U.S. surveys of … expectations accommodate perceived structural change and learning effects, are consistent with a lower bound on nominal interest … by term premiums, not expected short rates or inflation; 2) term premiums co-move more strongly across maturities than …

response of the interest rate to changes in sectoral inflation due to standard supply shocks, conditional on a given … environmental policy. We then compare the performance of a nonstandard monetary rule with sectoral inflation targets to that of a … sectors. Second, compared with a standard Taylor rule targeting aggregate inflation, a monetary policy rule with asymmetric …