Rudd, Jeremy B.; Whelan, Karl - 2003
Inflation Targets, Credibility, and Persistence
In a Simple Sticky-Price Framework
Jeremy Rudd
Federal Reserve Board … the idea|
rst proposed by Ball (1995)|that allowing for imperfect central bank credibility in the
baseline model can … contractionary policy shock. Some of our results relating to credibility and
imperfect knowledge are consistent with those found …