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This paper analyzes the time-varying credibility of the Fed's inflation target in an empirical macro model with … across monetary policy regimes. I find that imperfect credibility is pronounced during the Volcker Disinflation and to a …
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different degrees of central bank credibility in the four largest Latin American economies, which experienced a different …-looking and exclusively reacts to expected inflation under nearly perfect central bank credibility. Under a partially credible … bank credibility tends to improve over time. …
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