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Announcements and credibility under inflation targeting

Banu Demir () and Taner Yigit ()

Economics Letters, 2008, vol. 100, issue 2, 249-253

Abstract: We inspect how inflation target announcements are instrumental in building central bank credibility and shaping inflation expectations. Investigating the role of announcements by using a time varying credibility measure, we find that both the accuracy and the frequency of inflation announcements have a positive impact on how much attention the public pays to target announcements.

Date: 2008
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Working Paper: Announcements and Credibility under Inflation Targeting (2007) Downloads
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