Announcements and credibility under inflation targeting
AbstractWe inspect how inflation target announcements are instrumental in building central bank credibility and shaping inflation expectations. Investigating the role of announcements by using a time varying credibility measure, we find that both the accuracy and the frequency of inflation announcements have a positive impact on how much attention the public pays to target announcements.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 100 (2008)
Issue (Month): 2 (August)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Taner Yigit & Banu Demir, 2007. "Announcements and Credibility under Inflation Targeting," Departmental Working Papers 0705, Bilkent University, Department of Economics.
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