Expectations, credibility, and disinflation in a small macroeconomic model

Chan G. Huh and Kevin J. Lansing ()

No 9713, Working Paper from Federal Reserve Bank of Cleveland

Abstract: A study of the effects of expectations and central bank credibility on the economy's dynamic transition path during a disinflation. Using a version of the Fuhrer-Moore model, it compares simulations under different specifications that vary according to the way expectations are formed and the degree of central bank credibility.

Keywords: Monetary policy; Inflation (Finance); Business cycles (search for similar items in EconPapers)
Date: 1997
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Related works:
Working Paper: Expectations, credibility, and disinflation in a small macroeconomic model (1998)
Journal Article: Expectations, credibility, and disinflation in a small macroeconomic model (2000)
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Persistent link: http://EconPapers.repec.org/RePEc:fip:fedcwp:9713

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