-term inflation target to help anchor expectations. This paper aims to document how much the release of the forecasts of one major … central bank, the Bank of Japan (BOJ), has influenced private sector expectations of inflation, and whether the degree of … influence depends to any degree on the adoption of an inflation target (IT). Consistent with earlier studies, we find the …

inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

Well anchored inflation expectations are considered to be a reflection of credible monetary policy. In the past …, anchoring has been assessed using either long-run inflation surveys or break-even inflation rates on financial assets with long … maturities. But neither of these is ideal. Here we propose an alternative measure of inflation anchoring that makes full use of …

There has been mounting evidence that the inflation process has been changing. Inflation is now much lower and much … more effective. There is no doubt in our mind that this explanation goes a long way towards explaining the better inflation …. We argue that prevailing models of inflation are too country-centric, in the sense that they fail to take sufficient …

In this paper we explore the role that exchange rate interventions may play in determining inflation expectations in … Chile. To that end, we consider a set of nine deciles of inflation expectations coming from the survey of professional …

We model inflation forecasts as monotonically diverging from an estimated long-run anchor point towards actual … inflation as the forecast horizon shortens. Fitting the model with forecaster-level data for Canada and the US, we identify … three key differences between the two countries. First, the average estimated anchor of US inflation forecasts has tended to …

of inflation. It investigates the rule followed by the People's Bank of China (PBoC) by considering both the structural … inflation targeting. While the PBoC's behaviour up to 2001 was reminiscent of that in the inflation-accommodating G3 economies … the post-1979 anti-inflation (forward-looking) policy of the G3. An accurate estimation of the monetary policy rule from …

appropriate analytical approach. The paper starts with a discussion of the strategy of "flexible inflation targeting", which, in … analyses of links between financial stability and monetary policy. Insights from inflation targeting, and more recent views on …

Assigning a discretionary central bank a mandate to stabilize an average inflation rate - rather than a period …-by-period inflation rate - increases welfare in a New Keynesian model with an occasionally binding lower bound on nominal interest rates … inflation targeting (AIT) is equivalent to price level targeting (PLT). However, AIT with a finite, but sufficiently long …

We provide a new perspective on disagreement in inflation expectations by examining the full probability distributions … of UK consumer inflation forecasts based on an adaptive bootstrap multimodality test. Furthermore, we compare the … inflation forecasts of the Bank of England's Monetary Policy Committee (MPC) with those of UK consumers, for which we use data …