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Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of inflation expectations' anchoring using survey-based...
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This study proposes an implicit index for central bank credibility, which is critical in developing countries … dependent and policy rates as independent variables, are used to calculate the implicit credibility index of central banks. The … proposed central bank implicit credibility index was calculated using monthly data from 12 developing countries and New Zealand …
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