Buchumschlag

Inflation forecast targeting revisited

Weitere Versionen anzeigen (1)

Under inflation forecast targeting, central banks such as the ECB adjust policy to keep expected inflation on target. We evaluate the ECB’s inflation forecasts: they are unbiased and efficient but contain little information at forecast horizons beyond three quarters. In a New Keynesian model with tr...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Hauptverfasser: Conrad, Christian (VerfasserIn) , Enders, Zeno (VerfasserIn) , Müller, Gernot J. (VerfasserIn)
Dokumenttyp: Buch/Monographie Arbeitspapier
Sprache:Englisch
Veröffentlicht: Munich, Germany Munich Society for the Promotion of Economic Research - CESifo GmbH July 2025
Schriftenreihe:CESifo working papers 12006 (2025)
In: CESifo working papers (12006 (2025))

Schlagworte:
Graue Literatur
Online-Zugang:Verlag, kostenfrei: https://www.ifo.de/DocDL/cesifo1_wp12006.pdf
Verlag, kostenfrei: https://www.ifo.de/en/publications/2025/working-paper/inflation-forecast-targeting-revisited
Resolving-System, kostenfrei: https://hdl.handle.net/10419/324997
Volltext
Verfasserangaben:Christian Conrad, Zeno Enders, Gernot Müller

MARC

LEADER 00000cam a2200000 c 4500
001 193158012X
003 DE-627
005 20250919151211.0
007 cr uuu---uuuuu
008 250723s2025 gw |||||o 00| ||eng c
024 7 |a 10419/324997  |2 hdl 
035 |a (DE-627)193158012X 
035 |a (DE-599)KXP193158012X 
035 |a (OCoLC)1528625800 
040 |a DE-627  |b ger  |c DE-627  |e rda 
041 |a eng 
044 |c XA-DE 
084 |a 17  |2 sdnb 
084 |a C53  |a E52  |2 jelc 
100 1 |a Conrad, Christian  |d 1977-  |e VerfasserIn  |0 (DE-588)132066513  |0 (DE-627)517463725  |0 (DE-576)256818541  |4 aut 
245 1 0 |a Inflation forecast targeting revisited  |c Christian Conrad, Zeno Enders, Gernot Müller 
264 1 |a Munich, Germany  |b Munich Society for the Promotion of Economic Research - CESifo GmbH  |c July 2025 
300 |a 1 Online-Ressource (circa 44 Seiten)  |b Illustrationen 
336 |a Text  |b txt  |2 rdacontent 
337 |a Computermedien  |b c  |2 rdamedia 
338 |a Online-Ressource  |b cr  |2 rdacarrier 
490 1 |a CESifo working papers  |v 12006 (2025) 
520 |a Under inflation forecast targeting, central banks such as the ECB adjust policy to keep expected inflation on target. We evaluate the ECB’s inflation forecasts: they are unbiased and efficient but contain little information at forecast horizons beyond three quarters. In a New Keynesian model with transmission lags, inflation forecast targeting is indeed effective in stabilizing inflation—provided there is no forward-looking behavior—though the information content of forecasts is unrealistically high. In the presence of forward-looking behavior, the information content declines because monetary policy becomes more effective in meeting the target, but inflation is best stabilized by targeting current inflation. 
650 4 |a Inflation targeting  |7 (dpeaa)DE-206 
650 4 |a inflation forecast targeting  |7 (dpeaa)DE-206 
650 4 |a monetary policy  |7 (dpeaa)DE-206 
650 4 |a inflation forecast  |7 (dpeaa)DE-206 
650 4 |a information content  |7 (dpeaa)DE-206 
650 4 |a target horizon  |7 (dpeaa)DE-206 
650 4 |a ECB  |7 (dpeaa)DE-206 
655 4 |0 (DE-206)34  |a Graue Literatur  |5 DE-206 
700 1 |a Enders, Zeno  |d 1977-  |e VerfasserIn  |0 (DE-588)1042697515  |0 (DE-627)76941379X  |0 (DE-576)343512777  |4 aut 
700 1 |a Müller, Gernot J.  |d 1975-  |e VerfasserIn  |0 (DE-588)128912340  |0 (DE-627)56908685X  |0 (DE-576)297396099  |4 aut 
810 2 |a CESifo GmbH  |t CESifo working papers  |v 12006 (2025)  |9 12006  |w (DE-627)340076984  |w (DE-576)281209073  |w (DE-600)2065232-X  |x 2364-1428  |7 am 
856 4 0 |u https://www.ifo.de/DocDL/cesifo1_wp12006.pdf  |q application/pdf  |x Verlag  |z kostenfrei  |7 0 
856 4 0 |u https://www.ifo.de/en/publications/2025/working-paper/inflation-forecast-targeting-revisited  |x Verlag  |z kostenfrei  |7 0 
856 4 0 |u https://hdl.handle.net/10419/324997  |x Resolving-System  |z kostenfrei  |7 0 
951 |a BO 
992 |a 20260114 
993 |a WorkingPaper 
994 |a 2025 
998 |g 1042697515  |a Enders, Zeno  |m 1042697515:Enders, Zeno  |d 180000  |d 181000  |e 180000PE1042697515  |e 181000PE1042697515  |k 0/180000/  |k 1/180000/181000/  |p 2 
998 |g 132066513  |a Conrad, Christian  |m 132066513:Conrad, Christian  |d 180000  |d 181000  |e 180000PC132066513  |e 181000PC132066513  |k 0/180000/  |k 1/180000/181000/  |p 1  |x j 
999 |a KXP-PPN193158012X  |e 4847844823 
BIB |a Y 
JSO |a {"id":{"eki":["193158012X"],"hdl":["10419/324997"]},"relMultPart":[{"pubHistory":["Nr. 1.1991 -"],"dispAlt":"CESifo GmbH: CESifo working papers","origin":[{"publisherPlace":"München","dateIssuedKey":"1991","dateIssuedDisp":"1991-","publisher":"[Verlag nicht ermittelbar]"}],"recId":"340076984","language":["eng"],"note":["Gesehen am 30.04.25"],"corporate":[{"display":"CESifo GmbH","role":"aut"},{"role":"isb","display":"Ludwig-Maximilians-Universität München"}],"physDesc":[{"extent":"Online-Ressource"}],"title":[{"title_sort":"CESifo working papers","title":"CESifo working papers"}],"type":{"bibl":"serial","media":"Online-Ressource"},"id":{"hdl":["10419/19"],"eki":["340076984"],"issn":["2364-1428"],"zdb":["2065232-X"]},"part":{"number":["12006 (2025)"],"number_sort":["12006"]},"disp":"CESifo working papers","titleAlt":[{"title":"CESifo working paper series"},{"title":"Working paper"},{"title":"CES working paper series"}]}],"type":{"media":"Online-Ressource","bibl":"book"},"title":[{"title_sort":"Inflation forecast targeting revisited","title":"Inflation forecast targeting revisited"}],"physDesc":[{"extent":"1 Online-Ressource (circa 44 Seiten)","noteIll":"Illustrationen"}],"person":[{"given":"Christian","role":"aut","display":"Conrad, Christian","family":"Conrad"},{"display":"Enders, Zeno","family":"Enders","given":"Zeno","role":"aut"},{"role":"aut","given":"Gernot J.","family":"Müller","display":"Müller, Gernot J."}],"name":{"displayForm":["Christian Conrad, Zeno Enders, Gernot Müller"]},"language":["eng"],"recId":"193158012X","origin":[{"publisher":"Munich Society for the Promotion of Economic Research - CESifo GmbH","dateIssuedDisp":"July 2025","dateIssuedKey":"2025","publisherPlace":"Munich, Germany"}]} 
SRT |a CONRADCHRIINFLATIONF2025 

Ähnliche Einträge