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Inflation and Disinflation in Turkey
Kibritçioğlu, Aykut; Rittenberg, Libby; Selçuk, Faruk; … - 2002
Turkey's inflation and the likely costs and benefits of disinflation. …
Persistent link: https://www.econbiz.de/10010513258
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Learning, endogenous indexation and disinflation in the New-Keynesian model
Wieland, Volker - 2008
disinflation under inflation targeting policies. The analysis is motivated by the disinflation performance of many inflation …-targeting countries, in particular the gradual Chilean disinflation with temporary annual targets. At the start of the disinflation … adaptive learning lowers the cost of disinflation. This reduction can be exploited by a gradual approach to disinflation. Firms …
Persistent link: https://www.econbiz.de/10010298400
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Does monetary policy credibility help in anchoring inflation expectations? Evidence from six inflation targeting emerging economies
Güler, Aslı - In: Journal of Central Banking Theory and Practice 10 (2021) 1, pp. 93-111
Most emerging market central banks have adopted inflation targeting as their monetary policy system. The heart of inflation targeting system is inflation expectations. The success of a central bank in achieving targets depends on to the extent to which inflation expectations are formed by the...
Persistent link: https://www.econbiz.de/10014558525
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Imperfect knowledge, inflation expectations, and monetary policy
Orphanides, Athanasios; Williams, John C. - 2003
This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive learning technology to form expectations and to...
Persistent link: https://www.econbiz.de/10010298276
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How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households
van der Cruijsen, Carin; Jansen, David-Jan; de Haan, Jakob - 2010
Does the general public know what central banks do? Is this kind of knowledge relevant? Using a survey of Dutch households, we investigate these questions for the case of the European Central Bank (ECB). Our findings suggest that knowledge on the ECB’s objectives is far from perfect. Both a...
Persistent link: https://www.econbiz.de/10011605311
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The term structure of inflation expectations
Adrian, Tobias; Wu, Hao - 2009
We present estimates of the term structure of inflation expectations, derived from an affine model of real and nominal yield curves. The model features stochastic covariation of inflation with the real pricing kernel, enabling us to extract a time-varying inflation risk premium. We fit the model...
Persistent link: https://www.econbiz.de/10010283537
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Disinflation in a DSGE perspective: sacrifice ratio or welfare gain ratio?
Ascari, Guido; Ropele, Tiziano - 2009
When taken to examine disinflation monetary policies, the current workhorse DSGE model of business cycle fluctuations … downturn, disinflation entails non-zero overall welfare gains. …
Persistent link: https://www.econbiz.de/10010265222
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Managing disinflation under uncertainty
Tesfaselassie, Mewael F.; Schaling, Eric - 2008
In this paper we analyze disinflation policy when a central bank has imperfect information about private sector … inflation expectations but learns about them from economic outcomes, which are in part the result of the disinflation policy …. The form of uncertainty is manifested as uncertainty about the effect of past disinflation policy on current output gap …
Persistent link: https://www.econbiz.de/10010265530
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A quantitative exploration of the opportunistic approach to disinflation
Aksoy, Yunus; Orphanides, Athanasios; Small, David; … - 2005
inflation and its target, and the gap between output and its potential. Under 'the opportunistic approach to disinflation' a …
Persistent link: https://www.econbiz.de/10010298307
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Constrained discretion and central bank transparency
Bianchi, Francesco; Melosi, Leonardo - 2014
We develop and estimate a general equilibrium model in which monetary policy can deviate from active in.ation stabilization and agents face uncertainty about the nature of these deviations. When observing a deviation, agents conduct Bayesian learning to infer its likely duration. Under...
Persistent link: https://www.econbiz.de/10011460672