Announcements and credibility under inflation targeting

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Announcements and credibility under inflation targeting.pdf (471.72 KB)

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

Type

Article

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Volume Title

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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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Keywords

E31, E42, E58, Inflation expectations, Inflation target announcements, Learning

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Permalink

http://hdl.handle.net/11693/23054

Published Version (Please cite this version)

http://dx.doi.org/10.1016/j.econlet.2008.02.002

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Scholarly Publications - Economics