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The Determinants of Monetary Target Credibility
Ferderer, J. Peter - 1998
This paper examines the impact of several different factors on the credibility of the Federal Reserve's monetary … to M2 targets reduced credibility because the latter aggregate is less controllable. Second, velocity instability caused …
Persistent link: https://www.econbiz.de/10014213746
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Credible Monetary Policy When Output is Persistent : Exchange Rate and Nominal Income Targeting
Bae, Sang-Kun; Ratti, Ronald A. - 2004
Distortions introduced by targeting nominal income growth, or an exchange rate peg, in the trade-off between inflation and output in the stabilization of shocks to supply and terms of trade cannot be eliminated simultaneously. If supply shocks are optimally stabilized, targeting an exchange rate...
Persistent link: https://www.econbiz.de/10014074036
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Monetary Policy Regimes and Beliefs
Andolfatto, David; Gomme, Paul - 1997
Recent monetary history has been characterized by monetary authorities that appear to shift periodically between distinct policy regimes associated with higher or lower average rates of money creation. As policy regimes are not directly observable and as the rate of monetary expansion varies for...
Persistent link: https://www.econbiz.de/10014122723
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Sacrifice Ratios and Inflation Targeting : The Role of Credibility
de Roux, Nicolás - 2012
. We show here that inflation targeting only matters if disinflations are slow. The credibility gains of a fast …
Persistent link: https://www.econbiz.de/10013110425
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The Credibility of Central Bank Announcements
Hoeberichts, Marco - 2011
, because of the credibility problem that the central bank faces, the public will not believe a precise announcement. By …
Persistent link: https://www.econbiz.de/10014109703
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Opting out of the Great Inflation : German monetary policy after the break down of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina - 2009
During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...
Persistent link: https://www.econbiz.de/10003831853
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Opting out of the great inflation : German monetary policy after the breakdown of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - 2009
During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...
Persistent link: https://www.econbiz.de/10003837787
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Opting out of the great inflation : German monetary policy after the break down of Bretton Woods
Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina; … - 2008
During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...
Persistent link: https://www.econbiz.de/10003864082
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Opting Out of the Great Inflation : German Monetary Policy after the Break Down of Bretton Woods
Beyer, Andreas - 2013
During the turbulent 1970s and 1980s the Bundesbank established an outstanding reputation in the world of central banking. Germany achieved a high degree of domestic stability and provided safe haven for investors in times of turmoil in the international financial system. Eventually the...
Persistent link: https://www.econbiz.de/10012753257
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Is the Friedman rule stabilizing? : some unpleasant results in a heterogeneous expectations framework
Guerini, Mattia - 2013
The recent economic crisis gave proof of the fact that the Taylor rule is no more that good instrument as it was thought to be just ten years ago; this might be due to the fact that agents acting in the economy hold Heterogeneous Expectations (HE). In a recent paper Anufriev et al. (2013)...
Persistent link: https://www.econbiz.de/10011774119