Central banks analyze a wide range of data to obtain better measures of underlying inflationary pressures. Factor …

The perceptions of a central bank's inflation aversion may reflect institutional structure or, more dynamically, the … for persistent variation in market perceptions of central bank inflation aversion. The first years of the European Central …

Granting central banks independence from short-term political control is widely assumed to decrease inflation by … paper does not find evidence that the costs of disinflation are lower in countries with independent central banks, even when … differences in contracting behavior are taken into account. It also does not find evidence that central bank independence inhibits …

Central bank communication plays an important role in shaping market participants' expectations. This paper studies a … shows that agents' learning and the dynamics of the economy are heavily affected by central bank transparency about its … policy rule. A central bank that does not communicate its rule can induce "learning equilibria" in which the economy …

This paper explores the effects of central bank transparency on the performance of optimal inflation targeting rules. I … assume that both the central bank and the private sector face uncertainty about the "correct" model of the economy and have … to learn. A transparent central bank can reduce one source of uncertainty for private agents by communicating its policy …

implications for central bank behavior are compared to the time-series properties of inflation, and the response of interest rates …

this model that differ in terms of the behavior of, and the public’s information on, the central banks’ inflation target …

the model for theoretical and quantitative analyses of policy issues facing modern central banks. …