Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with an Application to Turkey

14 Pages Posted: 9 Feb 2006

See all articles by Marco Rossi

Marco Rossi

International Monetary Fund (IMF)

Alessandro Rebucci

Johns Hopkins University - Carey Business School; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Date Written: November 2004

Abstract

This paper presents an empirical measure of disinflation credibility and discusses its evolution in Turkey since the 2001 crisis. The results indicate that credibility has improved markedly over this period, boding well for the future of disinflation in Turkey.

Keywords: Bayesian Learning, Credibility, Disinflation, Mixing Estimation, Turkey

JEL Classification: C11, E58, F37

Suggested Citation

Rossi, Marco and Rebucci, Alessandro, Measuring Disinflation Credibility in Emerging Markets: A Bayesian Approach with an Application to Turkey (November 2004). IMF Working Paper No. 04/208, Available at SSRN: https://ssrn.com/abstract=879033

Marco Rossi (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Alessandro Rebucci

Johns Hopkins University - Carey Business School ( email )

100 International Drive
Baltimore, MD 21202
United States

HOME PAGE: http://carey.jhu.edu/faculty-research/faculty-directory/alessandro-rebucci-phd

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR) ( email )

London
United Kingdom

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