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Showing 1 to 3 of 3 for “"central bank credibility"”.
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Central bank credibility, endogenous beliefs and short-run Phillips curves
… where the Federal Reserve does not have full credibility among all the agents in the economy and where beliefs are endogenous. It is shown that when the Federal Reserve announces a new monetary policy rule, temporary nonneutrality of money can result if some agents are skeptical of the Fed's …
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Measuring Central Bank Credibility From the Effect of Inflation Shocks on Asset Prices
<p>In the early 1990s, the Bank of Canada explicitly adopted the inflation-targeting framework for monetary policy, while the Federal Reserve did not; instead, the Fed settled on an implicit inflation-targeting framework. In this study, I test whether the Bank of Canada and the Federal Reserve …
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Regime changes in monetary policy
… all economies. Chapter three establishes whether central bank preferences are related to governors’ tenures when there is a change in policy regime. A time-varying parameter approach that allows the policy preferences to vary over the sample period is used. The results show that the policy …