based on the changes in actual inflation rate do not perform very well in environments of chronic inflation. We design an … the central bank’s ability to lower inflation expectations towards its inflation target via current interest rate … differs from the existing measures that are based on the deviation of inflation expectations from the inflation target. We …

This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …

inflation and on unemployment. This relationship can be motivated by the existence of the Taylor rule. Using micro survey data … mainly driven by disagreement on inflation. Exploring further determinants, we confirm that central bank transparency as well …