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Showing 1 to 1 of 1 for “"inflation shocks"”.
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Measuring Central Bank Credibility From the Effect of Inflation Shocks on Asset Prices
… 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 earned credibility …