sense that it understands and observes the process by which private sector inflation expectations are generated, and one in … which the central bank has to learn the private sector inflation forecasting rule. Here, the learning scheme we investigate … accommodates private sector inflation expectations) is no longer constant across the disinflation, but becomes state …

normalizing and imposing independence conditions lead to distinct specifications of the covariance between inflation persistence … parameter and inflation shock. Moreover, the paper discusses this covariance in the light of the microfoundations of the hybrid … New Keynesian Phillips-curve, finding inflation persistence to be non-orthogonal to shocks …

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 …

inflation are co-breaking. We argue that the step-like development of inflation is in line with shocks and monetary policy that …% inflation was accomplished by introducing an inflation targeting regime. …

: output growth, the global term spread and an inflation climate measure. The common stochastic trend of the global economy is …