A new measure of credibility is constructed as a function of the differential between observed inflation and some … estimate of the inflation rate that the central bank targets. The target is assumed to be met flexibly. Credibility is …-2008 financial crisis. The VIX, adopting an inflation target and central bank transparency, are the most reliable determinants of …

A new measure of credibility is constructed as a function of the differential between observed inflation and some … estimate of the inflation rate that the central bank targets. The target is assumed to be met flexibly. Credibility is …-2008 financial crisis. The VIX, adopting an inflation target and central bank transparency, are the most reliable determinants of …

desire to pursue low and stable inflation is cause or consequence of economic performance during the two decades that …

changed central banking in many ways: by shifting the focus of monetary policy from fighting too high inflation towards … fighting too low inflation; by prompting new ‘experimental’ non-conventional measures, which risk to cause large, long …