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The days when secrecy and opacity were the bywords of central banking are gone. The advent of inflation targeting in the early 1990s acted as the catalyst for enhanced transparency and communications in the conduct of monetary policy. In the wake of the 2007 - 09 global financial crisis, this...
Persistent link: https://www.econbiz.de/10010202233
central banks’ (i) credibility, (ii) unorthodox measures, and (iii) independence. We utilise a survey of more than 500 … that the Fed communicates best, followed by the BoE, ECB, and BoJ. Similar rankings are found on the issues of credibility … credibility, increases satisfaction with unorthodox measures, and fosters perceived independence of central banks. …
Persistent link: https://www.econbiz.de/10010226327
central banks' (i) credibility, (ii) unorthodox measures, and (iii) independence. We utilise a survey of more than 500 … that the Fed communicates best, followed by the BoE, ECB, and BoJ. Similar rankings are found on the issues of credibility … credibility, increases satisfaction with unorthodox measures, and fosters perceived independence of central banks. …
Persistent link: https://www.econbiz.de/10010356195
Persistent link: https://www.econbiz.de/10011478296
to actual inflation and changes in oil and food prices. This suggests that the credibility of the central banks in these …
Persistent link: https://www.econbiz.de/10010408290
Persistent link: https://www.econbiz.de/10010203073
Beginning with the global financial crisis (2008) the correlation between crude oil prices and medium-term and forward inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices as a measure for global aggregate demand, we...
Persistent link: https://www.econbiz.de/10012916305
Persistent link: https://www.econbiz.de/10014251122
This paper studies the determinants of inflation expectations and credibility in the European Central Bank (ECB) during … the first decade of European monetary policy. As a measure of credibility we use the gap between the professional … of inflation expectations and credibility have changed during the recent financial crisis. Within a panel data approach …
Persistent link: https://www.econbiz.de/10012857399
Persistent link: https://www.econbiz.de/10011475970