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safeguarding financial stability, with the world economy still in the process of digesting the legacy of the crisis. The crisis has …
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whether the language used by central banks has changed since the global financial crisis (GFC) began. Briefly, I find that …
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1980s saw several financial crises around the world with little lasting impact on the global economy. The second mistake … was a failure to adequately appreciate how inter-connected the world's financial system had become. The fact that the … crisis originated in the advanced world only increased the effect it had on the global economy. The triumph was the …
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A new measure of credibility is constructed as a function of the differential between observed inflation and some estimate of the inflation rate that the central bank targets. The target is assumed to be met flexibly. Credibility is calculated for a large group of both advanced and emerging...
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about the past and present behavior and performance of central banks around the world, with the aim of providing a state …
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