Expectations, credibility, and disinflation in a small macroeconomic model

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.

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Year of publication:	1997
Authors:	Huh, Chan G. ; Lansing, Kevin J.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Monetary policy \| Inflation (Finance) \| Business cycles

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 9713
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005729054