The perceptions of a central bank's inflation aversion may reflect institutional structure or, more dynamically, the … for persistent variation in market perceptions of central bank inflation aversion. The first years of the European Central … the ECB during its first six years of operation significantly evolved, with a belief in its inflation aversion increasing …

Inflation targeting is gaining popularity as a framework for conducting monetary policy. At the same time many …

rates, to assess the credibility of the Convertibility Zone since it was introduced in May 2005. The empirical evidence … suggests that the Hong Kong Monetary Authority has been successful in building a high degree of credibility in maintaining the …

This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional … time; non-linearities in the inflation equation and in the credibility generating process; and an explicit loss function … model in three ways: an endogenous policy credibility process, by which monetary policy can gain or lose credibility over …

This paper studies the determinants of inflation expectations and credibility in the European Central Bank (ECB) during … of inflation expectations and credibility have changed during the recent financial crisis. Within a panel data approach … inflation appear as key determinants of the inflation expectations and the credibility gap in the ECB. Second, within a Panel …

(GFC) of 2007-2008. It was greatly aided by the adoption of inflation targeting. In this paper we evaluate this convergence … credibility). We then use panel VARs based on both factor models and observed data to ascertain the impact of global shocks …, financial shocks, trade shocks and credibility shocks on the EMEs versus the AEs.We find that although some EMEs did maintain …

) influences individuals' expectations and uncertainty about future inflation, and whether it anchors inflation expectations. We … find that higher trust in the ECB lowers inflation expectations on average, and significantly reduces uncertainty about … future inflation. Moreover, results from quantile regressions suggest that trusting the ECB increases (lowers) inflation …

rate regimes and well-anchored inflation expectations, such quantitative easing would help ease financial conditions, while … minimizing the risks of large depreciations and spiralling inflation …

rate regimes and well-anchored inflation expectations, such quantitative easing would help ease financial conditions, while … minimising the risks of large depreciations and spiralling inflation …

mechanisms to execute payments - in both the short and long run, drawing on both theory and the lessons from history. It stresses …