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This article advances a reputation‐based account to explain the relative salience that different issues assume in …. Specifically, when these concerns are higher, the Fed is more likely to focus on issues related to areas where its reputation is … related to activities where the Fed's reputation is established are likely to become less salient—that is, issues related to …
Persistent link: https://www.econbiz.de/10012908005
public institu-tions, are significantly vulnerable to such reputation risk due to theirmandate for policy decisions and … implementation. Thus, this studyaims to formulate a barometer that quantifies the reputation score ofcentral banks. The Central Bank … Reputation (CBR) score is derivedbased on the respondents’ responses to a questionnaire that includestwelve attributes and twenty …
Persistent link: https://www.econbiz.de/10014566384
We develop and estimate a general equilibrium model to quantitatively assess the effects and welfare implications of central bank transparency. Monetary policy can deviate from active inflation stabilization and agents conduct Bayesian learning about the nature of these deviations. Under...
Persistent link: https://www.econbiz.de/10011560575
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This paper looks at how the reputation of a monetary policy making committee is jointly determined with the reputations … of its individual members. I ask whether individuals ha ve more or less incentive to gain a reputation for being tough on …
Persistent link: https://www.econbiz.de/10009781721
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Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief … future grounds with temptation leads the way for a negative drift of reputation in equilibrium. Plans that successfully … the zero reputation limit, a gradual disinflation is preferred despite the absence of inflation inertia in the private …
Persistent link: https://www.econbiz.de/10012251953
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