Garga, Vaishali; Lakdawala, Aeimit; Sengupta, Rajeswari - 2022 - This version: October 2022
We propose a novel framework to gauge the credibility of central banks' commitment to an inflation-targeting regime … inflation targeting makes economic agents change their perception about central bank decisions. Specifically, using the Reserve … Bank of India's adoption of inflation targeting in 2015 as a laboratory, we apply two different approaches to estimate a …