first documents the factors that explain monetary policy credibility. Using the standard deviation of individual inflation … Africa over the past two decades, which coincides with the adoption of the inflation-targeting regime. The paper conjectures …, in line with the literature, that this outcome is largely due to improved monetary policy credibility. To do this, it …

inflation expectations increased leading to fears of their un-anchoring. Using the first principal component of commodity prices …. Using a Phillips Curve framework we find a structural change after the collapse of Lehman Brothers when inflation …

) influences individuals' expectations and uncertainty about future inflation, and also 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 …

This article investigates the relationship between central bank credibility and the volatility of the key monetary … policy instrument. Two main contributions are proposed. First, we propose a time-varying measure of central bank credibility … based on the gap between inflation expectations and the official inflation target. While this new index addresses the main …

bank credibility in Poland, using survey-based measures of inflation expectations formed by consumers, enterprises and … Poland. We highlight the role of inflation projections prepared by the staff of the National Bank of Poland in building … transparency of monetary policy. The results suggest that central bank inflation projections, published since 2004, have led to …

We investigate the credibility of inflation targeting (IT) central banks (CBs) by estimating perceived inflation … targets of the financial markets. We calculate financial markets' beliefs about the inflation targets of 24 IT countries. Then …, we analyze whether the financial markets' beliefs about inflation targets match the announced targets. We conclude that …