central bank credibility is negatively associated with the level of the inflation target, suggesting that less credible …

macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target …

This paper surveys the empirical literature assessing the credibility of monetary policy inside an inflation targeting … credibility effects associated with this policy rule. Drawing on the existing literature, we outline a promising direction for … future research, based on an extension of Svensson (1994) “simplest test” of inflation target credibility inside a Bayesian …

target. To (re-) establish credibility, monetary policy under discretion sets higher interest rates today if average … reflected in an additional term in the central bank's instrument rule, which we refer to as the ”credibility loss.” Augmenting a … and that this influence is economically meaningful. Deterioration in credibility (ceteris paribus) forces central bankers …

target. To (re-) establish credibility, monetary policy under discretion sets higher interest rates today if average … reflected in an additional term in the central bank's instrument rule, which we refer to as the "credibility loss." Augmenting a … and that this influence is economically meaningful. Deterioration in credibility (ceteris paribus) forces central bankers …

credibility. …