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importantly, the additional fiscal conditionality can enhance the credibility of the central bank to achieve price stability. We … emphasize how the level and structure of government debt emerge as key factors affecting the credibility of monetary policy with …
Persistent link: https://www.econbiz.de/10012886819
We use three different indicators based on inflation expectations to measure central bank credibility in 9 countries in … Central and Eastern Europe. We quantify credibility using differences between official inflation targets and inflation …. Determinants of central bank credibility are investigated using pooled OLS. According to our results, stable and low inflation and …
Persistent link: https://www.econbiz.de/10012391669
elements of the strategy can enhance the perceived credibility that price stability will be maintained in the medium … strongest positive impact on credibility, boosting credibility also among the less financially literate and generating more … persistent credibility gains, even after inflation increased. …
Persistent link: https://www.econbiz.de/10013553462
We propose a novel framework to gauge the credibility of central banks' commitment to an inflation-targeting regime …
Persistent link: https://www.econbiz.de/10013468210
macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target …
Persistent link: https://www.econbiz.de/10010322261
macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target … targeting ; central bank ; inflation ; credibility ; independence …
Persistent link: https://www.econbiz.de/10008798081
We examine how the transparency of the European Central Bankś monetary policy affects the amount of trust that the citizens of the European Union have in this institution. We use nearly half a million individual responses from the European Commissionś Eurobarometer survey from 2000-2011 and...
Persistent link: https://www.econbiz.de/10011375697
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
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
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