Central bank communication and output stabilization
نویسندگان
چکیده
منابع مشابه
Interest rate and output gap: Does central bank credibility matter?
This paper studies the effects of central bank credibility on nominal interest rate and output gap on 17 inflation targeting (IT) developing countries using Instrument Variables (IV) over a period that spans 24 years (1996-2019). In the first stage, using new Keynesian model is obtained “Credibility loss” index to measure the importance of central bank past performance and its deviation from it...
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for helpful comments on an earlier draft, without implicating any of them in the views expressed here. I would also like to thank Mauro Roca for research assistance and the National Science Foundation for research support through a grant to the NBER.
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ژورنال
عنوان ژورنال: Oxford Economic Papers
سال: 2008
ISSN: 1464-3812,0030-7653
DOI: 10.1093/oep/gpn023