Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with An Application to Turkey

Alessandro Rebucci () and Marco Rossi

No 2004/208, IMF Working Papers from International Monetary Fund

Abstract: This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding well for the future of disinflation in Turkey.

Keywords: WP; disinflation process; inflation rate; consumer price index; Bayesian Learning; Credibility; Disinflation; Mixing Estimation; Turkey; disinflation credibility; disinflation program; disinflation history; program coefficient; Inflation; Inflation targeting; Consumer price indexes; Asset prices (search for similar items in EconPapers)
Pages: 14
Date: 2004-11-01
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Citations: View citations in EconPapers (3)

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