measures on forecasts themselves, there appear some limits of the same measures when we study their impact on forecast errors …. Our findings, indeed, suggest that deviations of the economic forecast data from the realized ones (RGDP and the current … forecast errors, especially, are not affected at all by those measures. A possible explanation (among others) could be …

standard deviation of individual forecasts around the median Consensus Forecast as proxy for forecast uncertainty. Our sample … react significantly to inflation forecast uncertainty by reducing their policy rates in times of higher inflation … forecast uncertainty. We conclude with some implications for optimal monetary policy rules and central bank watchers …

approximating strict inflation-forecast targeting are likely to have undesirable properties. We also show that economies with more … general forecast-based policy rules are particularly susceptible to indeterminacy of rational expectations equilibria. We …