absolute credibility and credibility in expectation, are distinguished. The inflation targets of Canada, New Zealand and Sweden …A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates …, fall outside the range of target- consistent real yields, credibility is rejected. Two concepts of credibility, called …

In 1991, Canada became the second country to adopt an inflation target as a central pillar of its monetary policy … - including low equilibrium real interest rates and high debt burdens in key sectors - now present monetary policy in Canada and …

absolute credibility and credibility in expectation, are distinguished. The inflation targets of Canada, New Zealand and Sweden …A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates …, fall outside the range of target- consistent real yields, credibility is rejected. Two concepts of credibility, called …

test the "good luck hypothesis", we examine the inflation experience of Canada, one of the earliest and most successful …