Measuring Disinflation Credibility in Emerging Markets; A Bayesian Approach with An Application to Turkey
This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding well for the future of disinflation in Turkey.
|Date of creation:||01 Nov 2004|
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- Gaston Gelos & Alessandro Prati & Oya Celasun, 2004.
"Obstacles to Disinflation; What is the Role of Fiscal Expectations?,"
IMF Working Papers
04/111, International Monetary Fund.
- 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.
- Jeroen J. M. Kremers, 1990. "Gaining Policy Credibility for a Disinflation: Ireland's Experience in the EMS," IMF Staff Papers, Palgrave Macmillan, vol. 37(1), pages 116-145, March.
- N. Gregory Mankiw & Jeffrey A. Miron & David N. Weil, 1987.
"The Adjustment of Expectations to a Change in Regime: A Study of the Founding of the Federal Reserve,"
NBER Working Papers
2124, National Bureau of Economic Research, Inc.
- Mankiw, N Gregory & Miron, Jeffrey A & Weil, David N, 1987. "The Adjustment of Expectations to a Change in Regime: A Study of the Founding of the Federal Reserve," American Economic Review, American Economic Association, vol. 77(3), pages 358-74, June.
- Agenor, Pierre-Richard & Taylor, Mark P, 1993. "Analysing Credibility in High-Inflation Countries: A New Approach," Economic Journal, Royal Economic Society, vol. 103(417), pages 329-36, March.
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