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- W3124318293 abstract "This paper develops a simple intertemporal model of inflation targets within a framework in which the public is uncertain about the dependability of policymakers, and in which policymakers do not perfectly control inflation. The framework is used to evaluate the effects of various parameters like the rate of time preference, initial reputation, and transparency (or precision of inflation control) on planned inflation, announced targets and the evolution of reputation and of inflationary expectations. The paper also shows that, when allowed to choose the precision of inflation control, more dependable policymakers will often choose relatively more precise control procedures. Implications for the type of inflation stabilization (cold turkey or gradual) chosen by dependable policymakers are also derived. Copyright Springer-Verlag Berlin Heidelberg 2000 (This abstract was borrowed from another version of this item.) (This abstract was borrowed from another version of this item.)" @default.
- W3124318293 created "2021-02-01" @default.
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- W3124318293 date "1999-01-01" @default.
- W3124318293 modified "2023-09-27" @default.
- W3124318293 title "Establishing a Reputation for Dependability by Means of Inflation Targets" @default.
- W3124318293 hasPublicationYear "1999" @default.
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