This paper takes the parameters in central bank loss functions as fundamental preferences to be estimated from the data … with senior central bank appointments. Optimizing central banks apply policy rules whose feedback coefficients are …

Remarks at the Central Bank Independence Conference—Progress and Challenges in Mexico, Mexico City, Mexico. …

imply implicit instrument rules, may be closer to actual operating procedures of inflation-targeting central banks. We find … that inflation forecasts are central for good policy rules under inflation targeting. Some simple instrumental and …

We use a version of the Fuhrer-Moore model to study the effects of expectations and central bank credibility on the … model that vary according to the way that expectations are formed (rations versus adaptive) and the degree of central bank … central bank may face diminishing returns in its efforts to enhance credibility. …

credibility of the central bank can be considered in assessing the cost of deliberate and opportunistic disinflation. …

target inflation would undermine the rationale for central bank independence and constitute an additional movement away from …