Announcements and Credibility under Inflation Targeting

• Tác giả: Banu Demir
• Ngôn ngữ: eng
• Ký hiệu phân loại: 332.41 Value of money
• Thông tin xuất bản: 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 305147
• Chủ đề: 1. Central Banks and Their Policies E580; 2. Deflation E310; 3. Inflation; 4. Price Level

Tóm tắt

We inspect how inflation target announcements are instrumental in building central bank credibility and shaping inflation expectations. Investigating the role of announcements by using a time varying credibility measure, we find that both the accuracy and the frequency of inflation announcements have a positive impact on how much attention the public pays to target announcements.