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.
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- 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.
- 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.
- R. G Gelos & Alessandro Prati & Oya Celasun, 2004. "Obstacles to Disinflation; What is the Role of Fiscal Expectations?," IMF Working Papers 04/111, International Monetary Fund.
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