Tesfaselassie, Mewael; Schaling, Eric; Eijffinger, Sylvester - Econometric Society - 2004
analyse inflation forecast targeting in two environments. One in which the central bank has perfect knowledge, in the sense … which the central bank has imperfect knowledge and has to learn the private sector forecasting rule for short-term interest … rates. In the case of imperfect knowledge, the central bank has to learn about private sector interest rate expectations, as …