Inflation targeting does not anchor inflation expectations: evidence from firms in NEw Zeland by Saten Kumar, Hassan Afrouzi, Olivier Coibio and Yuriy Gorodnichenko published by NBER (12/2015), indicated by Pedro A. C. Saffi. “…Their forecasts of future inflation reflect high levels of uncertainty and are extremely dispersed as well as volatile at both short and long-run horizons. Similar results can be found in the U.S. using currently available surveys as shown in Binder (2015).”
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