IDEAS home Printed from https://ideas.repec.org/a/ebl/ecbull/eb-06f20004.html
   My bibliography  Save this article

Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with an Application to Turkey's IMF-Supported Program

Author

Listed:
  • Alessandro Rebucci

    () (International Monetary Fund)

  • Marco Rossi

    () (International Monetary Fund)

Abstract

This paper proposes a new empirical measure of disinflation credibility and applies it to the IMF-supported disinflation program in Turkey since the 2001 crisis. This measure relies only on the consumer price index and can thus be easily applied in countries in which asset prices and survey inflation expectations are not available or reliable. The application to Turkey's shows that it is less volatile and hence more reliable than a survey-expectation based measure.

Suggested Citation

  • Alessandro Rebucci & Marco Rossi, 2006. "Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with an Application to Turkey's IMF-Supported Program," Economics Bulletin, AccessEcon, vol. 6(11), pages 1-8.
  • Handle: RePEc:ebl:ecbull:eb-06f20004
    as

    Download full text from publisher

    File URL: http://www.accessecon.com/pubs/EB/2006/Volume6/EB-06F20004A.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Baxter, Marianne, 1985. "The role of expectations in stabilization policy," Journal of Monetary Economics, Elsevier, vol. 15(3), pages 343-362, May.
    2. Oya Celasun & R. Gaston Gelos & Alessandro Prati, 2004. "Obstacles to disinflation: what is the role of fiscal expectations?," Economic Policy, CEPR;CES;MSH, vol. 19(40), pages 441-481, October.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ebl:ecbull:eb-06f20004. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.