Read Anywhere and on Any Device!

Subscribe to Read | $0.00

Join today and start reading your favorite books for Free!

Create Free Account

Quick and Easy Sign Up!

It takes less then 1 minute to sign up, then you can enjoy Unlimited eBooks.

Sign Up Browse

Popular Genres

Read Anywhere and on Any Device!

  • Download on iOS
  • Download on Android
  • Download on iOS

International Finance Discussion Papers: Inflation Regimes and Inflation Expectations

International Finance Discussion Papers: Inflation Regimes and Inflation Expectations

Joseph E. Gagnon
0/5 ( ratings)
Read Download
There has been much talk in the popular press about the difficulty of attaining credibility in the bond markets for the low-inflation policies that have been adopted by a number of central banks in recent years. This credibility problem is particularly severe for those countries that have a history of high inflation. Gaining credibilty is often viewed in the context of learning by the public about the central bank's true intentions. However, this paper argues that a more important aspect of credibility--at lease for long-term inflation expectations--may be public views about how future changes in personnel, electoral results, or economic shocks may affect central bank behavior. In other words, there is always a positive probability that the current regime will end. Views about the nature of possible future regimes are likely to be influenced by observed past regimes.
Language
English
Pages
38
Format
Paperback
Release
February 08, 2013
ISBN 13
9781288734061

International Finance Discussion Papers: Inflation Regimes and Inflation Expectations

Joseph E. Gagnon
0/5 ( ratings)
Read Download
There has been much talk in the popular press about the difficulty of attaining credibility in the bond markets for the low-inflation policies that have been adopted by a number of central banks in recent years. This credibility problem is particularly severe for those countries that have a history of high inflation. Gaining credibilty is often viewed in the context of learning by the public about the central bank's true intentions. However, this paper argues that a more important aspect of credibility--at lease for long-term inflation expectations--may be public views about how future changes in personnel, electoral results, or economic shocks may affect central bank behavior. In other words, there is always a positive probability that the current regime will end. Views about the nature of possible future regimes are likely to be influenced by observed past regimes.
Language
English
Pages
38
Format
Paperback
Release
February 08, 2013
ISBN 13
9781288734061

More books from Joseph E. Gagnon

Flexible Exchange Rates for a Stable World Economy

4.5/5 ( ratings)

The Global Outlook for Government Debt Over the Next 25 Years: Implications for the Economy and Public Policy

3/5 ( ratings)

China's New Economic Frontier: Overcoming Obstacles to Continued Growth

3/5 ( ratings)

International Finance Discussion Papers: Long Memory in Inflation Expectations: Evidence from International Financial Markets

3/5 ( ratings)

Direct and Spillover Effects of Unconventional Monetary and Exchange Rate Policies

3/5 ( ratings)

Rate this book!

Write a review?

loader