Many central banks worldwide announce numerical inflation targets, typically ranging from zero to two percent in advanced economies and higher in developing countries. Historically, a significant gap existed between the inflation targets pursued by central banks and those recommended by academic...

This paper investigates the determinants of inflation target credibility (ITC) using a unique survey we designed to measure the credibility of the ECB's inflation target. Containing over 200,000 responses from German consumers collected between January 2019 and November 2024, our dataset enables...

This paper investigates the determinants of inflation target credibility (ITC) using a unique survey we designed to measure the credibility of the ECB's inflation target. Containing over 200,000 responses from German consumers collected between January 2019 and November 2024, our dataset enables...

This paper investigates how different parametrisations of the monetary policy reaction function and different mechanisms of expectation formation shape the macroeconomic outcomes in the estimated Smets-Wouters type of DSGE model. The initial macroeconomic conditions of the simulations correspond...

At the request of the Banco Nacional de Angola (BNA), a technical assistance (TA) mission from the Monetary and Capital Markets (MCM) Department visited Luanda, Angola from May 20 to May 24, 2024. The mission helped the authorities review its forecasting and policy analysis system (FPAS),...