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

Alessandro Rebucci () and Marco Rossi

No 04/208, 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: Disinflation; Central banks and their policies; Turkey; Bayesian Learning, Credibility, Mixing Estimation, inflation, monetary policy, inflation process, inflation rate, inflation targeting, Bayesian Analysis, International Finance Forecasting and Simulation, (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa, nep-fin and nep-mon
Date: 2004-11-01
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