E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T09:41:33+00:00Gaining Credibility for Inflation Targets
https://www.bankofcanada.ca/2001/07/working-paper-2001-11/
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.2001-07-01T14:51:24+00:00enGaining Credibility for Inflation Targets2001-07-01CredibilityInflation targetsWorking Paper 2001-11 https://www.bankofcanada.ca/wp-content/uploads/2010/02/wp01-11.pdfGaining Credibility for Inflation TargetsJames YetmanJuly 2001EE5E52