-varying volatility and a persistent COVID supply shock during the pandemic. Resulting estimates of the natural rate of interest in the …

frameworks in the presence of a low natural rate of interest and a lower bound on interest rates. Under a standard inflation …-targeting approach, inflation expectations will be anchored at a level below the inflation target, which in turn exacerbates the … eliminate this problem of a downward bias in inflation expectations by following an average-inflation targeting framework that …

-looking fashion to inflation expectations can avoid the problem of indeterminacy …