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 InfoPaper provided by Bilkent University, Department of Economics in its series Departmental Working Papers with number 0705.
Date of creation: 2007
Date of revision:
Other versions of this item:
- Demir, Banu & Yigit, Taner M., 2008. "Announcements and credibility under inflation targeting," Economics Letters, Elsevier, vol. 100(2), pages 249-253, August.
- NEP-ALL-2007-08-27 (All new papers)
- NEP-CBA-2007-08-27 (Central Banking)
- NEP-MAC-2007-08-27 (Macroeconomics)
- NEP-MON-2007-08-27 (Monetary Economics)
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