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- W3122920281 abstract "This paper analyses the impact of the monetary regime change from the Bundesbank to the ECB on inflation expectations. In the theoretical part, the Barro-Gordon model is used to derive the potential effect of a new central bank on inflation and inflation expectations. The econometric investigation is based on a flexible specification of expectation formation which allows both for rational and adaptive elements. The results indicate that the monetary regime change did not have a strong and lasting impact on the formation of inflation expectations and that the credibility of both central banks is not perceived to differ significantly anymore." @default.
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- W3122920281 date "2006-04-01" @default.
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- W3122920281 title "The Impact of EMU on Inflation Expectations" @default.
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- W3122920281 doi "https://doi.org/10.1007/s11079-006-6809-2" @default.
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