KING, ROBERT G.; LU, YANG K.; PASTÉN, ERNESTO S. - In: Journal of Money, Credit and Banking 40 (2008) 8, pp. 1625-1666
The idea that monetary policy is principally about "managing expectations" has taken hold in central banks around the world. Discussions of expectations management by central bankers, academics and by financial market participants frequently also include the idea that central bank credibility is...