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The Evolution of the Fed's Inflation Target in an Estimated Model under RE and Learning

Fabio Milani ()

No 60704, Working Papers from University of California-Irvine, Department of Economics

Abstract: This paper aims to infer the evolving Fed's inflation target by estimating a monetary model under the assumptions of RE and learning. The results emphasize how different assumptions about expectations may have important effects on the inferred target movements.

Keywords: Time-varying inflation target; Learning, Expectations, Bayesian estimation (search for similar items in EconPapers)
JEL-codes: E50 E52 E58 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2006-09
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:irv:wpaper:060704

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