Credibility Dynamics and Disinflation Plans /
We study the optimal design of a disinflation plan by a planner who lacks commitment. Having announced a plan, the Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief that the Central bank is committed to the plan. Some plan...
| Autor Principal: | |
|---|---|
| Outros autores: | |
| Formato: | Revista |
| Idioma: | English |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2020.
|
| Series: | IMF Working Papers; Working Paper ;
No. 2020/085 |
| Subjects: | |
| Acceso en liña: | Full text available on IMF |