The rise, fall, and stabilization of US inflation between 1969 and 2005 is consistent with a model of shifting policy … sector learning about policymaker type. Using model-implied inflation forecasting rules to extract state variables from the … inflation forecasts in the Survey of Professional Forecasters, we provide evidence that policy regimes without commitment …

We propose a novel framework to gauge the credibility of central banks' commitment to an inflation-targeting regime … inflation targeting makes economic agents change their perception about central bank decisions. Specifically, using the Reserve … Bank of India's adoption of inflation targeting in 2015 as a laboratory, we apply two different approaches to estimate a …

extent to which inflation expectations are formed by the announced targets. As the credibility of the central bank increases …), the empirical tests were carried out in order to understand the effect of the credibility on the behaviour of inflation … expectation in emerging economies. The findings denote that credibility is quite relevant to reduce inflation expectations and …