Announcements and credibility under inflation targeting

Date

2008

Authors

Demir, B.
Yigit, T. M.

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Source Title

Economics Letters

Print ISSN

0165-1765

Electronic ISSN

1873-7374

Publisher

Elsevier BV

Volume

100

Issue

2

Pages

249 - 253

Language

English

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Abstract

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. © 2008 Elsevier B.V. All rights reserved.

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