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The Effect of Central Bank Credibility on Forward Guidance in an Estimated New Keynesian Model
Martínez-García, Enrique - 2020
This paper examines the effectiveness of forward guidance in an estimated New Keynesian model with imperfect central bank credibility. Forward guidance and the credibility of the central bank are uniquely modeled by utilizing a game-theoretic evolutionary framework. We estimate credibility for...
Persistent link: https://www.econbiz.de/10012844416
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The Effect of Central Bank Credibility on Forward Guidance in an Estimated New Keynesian Model
Cole, Stephen J. - 2020
This paper examines the effectiveness of forward guidance in an estimated New Keynesian model with imperfect central bank credibility. Forward guidance and the credibility of the central bank are uniquely modeled by utilizing a game-theoretic evolutionary framework. We estimate credibility for...
Persistent link: https://www.econbiz.de/10012846480
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The effectiveness of central bank forward guidance under inflation and price-level targeting
Cole, Stephen J. - In: Journal of macroeconomics 55 (2018), pp. 146-161
Persistent link: https://www.econbiz.de/10012127586
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The influence of learning and price-level targeting on central bank forward guidance
Cole, Stephen J. - In: Journal of macroeconomics 65 (2020), pp. 1-25
Persistent link: https://www.econbiz.de/10012433756
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The effect of central bank credibility on forward guidance in an estimated New Keynesian model
Cole, Stephen J.; Martínez-García, Enrique - In: Macroeconomic dynamics 27 (2023) 2, pp. 532-570
Persistent link: https://www.econbiz.de/10014247540