Inflation Targeting Under Imperfect Policy Credibility.
This paper presents a model for Inflation Targeting under imperfect policy credibility. It modifies the conventional model in three ways: an endogenous policy credibility process, by which monetary policy can gain or lose credibility over time; non-linearities in the inflation equation and in the cr...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
2009.
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| Series: | IMF Working Papers; Working Paper ;
No. 2009/094 |
| Online Access: | Full text available on IMF |