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The Simplest Test of Inflation Target Credibility

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NBER1993-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w4604
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A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates consistent with the inflation targets from the yields to maturity on nominal bonds. This results in a target-consistent range of real yields on nominal bonds. If expected real yields,
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1993-12-01
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