Pierdzioch, Christian; Rülke, Jan-Christoph - In: Economic Modelling 35 (2013) C, pp. 214-223
We suggest a simple test of whether an inflation target anchors private-sector inflation expectations. The test is easy … measures commonly studied in research on inflation targeting. Using data for 22 inflation targeting countries, we find for many … countries that the forecasters scatter their inflation forecasts away from the inflation target. We account for the endogeneity …