Establishing and Maintaining a Firm Nominal Anchor

Andrew Levin ()

International Journal of Central Banking, 2014, vol. 10, issue 2, 405-412

Abstract: A key practical challenge for monetary policy is to gauge the extent to which the private sector perceives the central bank’s nominal anchor as transparent and credible. In light of that challenge, this commentary discusses some evidence on the evolution of longer-term inflation expectations in three advanced economies and then highlights several econometric issues that are relevant in assessing whether a given central bank has effectively been following a price-level targeting regime or an inflation-targeting regime.

JEL-codes: E31 E42 E52 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ijc:ijcjou:y:2014:q:2:a:16

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