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Sovereign debt sustainability and central bank credibility
Willems, Tim; Zettelmeyer, Jeromin - 2022
", albeit of limited size. The value of such services depends on the credibility of the central bank, which can be accumulated …
Persistent link: https://www.econbiz.de/10013170526
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Central Bank Vulnerability and the Credibility of Commitments : A Value-At-Risk Approach to Currency Crises
Schumacher, Liliana - 1998
A loss of solvency increases central bank vulnerability, reducing the credibility of commitments to defend a nominal …
Persistent link: https://www.econbiz.de/10014400710
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Central Bank Financial Strength, Transparency, and Policy Credibility
Stella, Peter - 2002
and risks presented by the operational environment. Attaining credibility is facilitated if the public can easily …
Persistent link: https://www.econbiz.de/10014401621
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The Bank of Canada's Monetary Policy Framework : Have Recent Changes Enhanced Central Bank Credibility?
Ito, Takatoshi - 1997
changes in the Bank of Canada’s monetary policy framework and analyzes various indicators of central bank credibility …
Persistent link: https://www.econbiz.de/10014403335
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Measuring Disinflation Credibility in Emerging Markets : A Bayesian Approach with An Application to Turkey
Rebucci, Alessandro - 2004
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 …
Persistent link: https://www.econbiz.de/10014404049
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Expectations' anchoring and inflation persistence
Bems, Rudolfs; Caselli, Francesca; Grigoli, Francesco; … - 2018
Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of inflation expectations' anchoring using survey-based...
Persistent link: https://www.econbiz.de/10011978669
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Does money matter for inflation in Ghana?
Kovanen, Arto Tapani - 2011
Persistent link: https://www.econbiz.de/10009419634
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Commodity price shocks and imperfectly credible macroeconomic policies in commodity-exporting small open economies
Medina, Juan Pablo; Soto, Claudio - 2014
Persistent link: https://www.econbiz.de/10010388572
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The monetary policy credibility channel and the amplification effects in a semi-structural model
Chansriniyom, Thitipat; Epstein, Natan; Nalban, Valeriu - 2020
credibility. In our setting, central bank credibility is proportional to the deviation of inflation expectations from the … announced inflation target, with positive deviations being more costly compared to negative ones. A loss in policy credibility …. We find that the extended model with credibility effects matches well the key macroeconomic data over specific past …
Persistent link: https://www.econbiz.de/10012391944
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Credibility dynamics and disinflation plans
Kostadinov, Rumen; Roldán, Francisco - 2020
We study the optimal design of a disinflation plan by a planner who lacks commitment. Having announced a plan, the Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief that the Central bank is committed to the plan. Some plans...
Persistent link: https://www.econbiz.de/10012251953