Baeriswyl, Romain; Cornand, Camille - 2007 - First version: January 2006 - This version: December 2006
Excessive inflation is usually attributed to the lack of central bank's credibility. In this context, most of the literature considers transparency a means to establish central bank's credibility. The contribution of this paper is twofold. First, it shows that, even in the absence of...
