Gaining credibility for inflation targets / by James Yetman. : FB3-2/101-11E
In this paper, I consider a simple model in which agents learn about the inflation target of a central bank over time by observing the policy instrument or inflation outcomes. Measuring credibility as the distance between the perceived target and the actual target, an increase in credibility is beneficial to the central bank because it brings the policy consistent with attaining the inflation target closer to that required to attain the output target.--Abstract
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| Department/Agency | Bank of Canada. |
|---|---|
| Title | Gaining credibility for inflation targets / by James Yetman. |
| Series title | Working paper1192-54342001-11 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Paper |
| Other formats | Electronic-[English] |
| Note(s) | "In this paper, I consider a simple model in which agents learn about the inflation target of a central bank over time by observing the policy instrument or inflation outcomes. Measuring credibility as the distance between the perceived target and the actual target, an increase in credibility is beneficial to the central bank because it brings the policy consistent with attaining the inflation target closer to that required to attain the output target."--Abstract. Résumés en français |
| Publishing information | Ottawa - Ontario : Bank of Canada 2001. |
| Binding | Softcover |
| Description | vi, 33p. : figs., graphs, references ; 28 cm. |
| ISSN | 1192-5434 |
| Catalogue number |
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| Subject terms | Inflation Economic conditions |
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