top of page

The Better Policy Project

Subscribe to our Newsletter

THE BETTER POLICY PROJECT

GREAT THINGS ARE COMING

Central Bank Credibility Research

Mervyn King
Former governor of Bank of England

"We need models in which the credibility of a central bank is endogenous to its actions."

Mervyn King

The Quest for Nominal Stability: Lessons from Three Decades with Inflation Targeting, Sveriges Riksbank, 23–24 May 2024

Reading List for Lord Mervyn King

Douglas Laxton, Nicholas Ricketts and David Rose, 1993, Uncertainty, Learning and Policy Credibility.

Isard, Peter & Laxton, Douglas & Eliasson, Ann-Charlotte, 2001. "Inflation targeting with NAIRU uncertainty and endogenous policy credibility," Journal of Economic Dynamics and Control, Elsevier, vol. 25(1-2), pages 115-148, January.

Laxton, Douglas and Papa NDiaye, 2002, Monetary Policy Credibility and the Unemployment-Inflation Nexus: Some Evidence from Seventeen OECD Countries, IMF Working Paper 02/220 (Washington: International Monetary Fund).

Goretti, M., and D. Laxton, 2005, Long-Term Inflation Expectations and Credibility, Box 4.2 in Chapter 4 of the September 2005 World Economic Outlook, International Monetary Fund.

Eyal Argov & David Rose & Mr. Philippe D Karam & Mr. Natan P. Epstein & Mr. Douglas Laxton, 2007. "Endogenous Monetary Policy Credibility in a Small Macro Model of Israel," IMF Working Papers 2007/207, International Monetary Fund.

Alichi, A., K. Clinton, J. Dagher, O. Kamenik, D. Laxton, and M. Mills, 2010, "A Model for Full-Fledged Inflation Targeting and Application to Ghana", IMF Working Paper 10/25 (January 2010).

Benes, J., K. Clinton, A.T. George, J. John, O. Kamenik, D. Laxton, P. Mitra, G.V. Nadhanael, H. Wang, F. Zhang, 2016, "Inflation-Forecast Targeting for India: An Outline of the Analytical Framework," The Reserve Bank of India Working Paper 07/2016.

Benes, J., K. Clinton, A.T. George, P. Gupta, J. John, O. Kamenik, D. Laxton, P. Mitra, G.V. Nadhanael, R. Portillo, H. Wang, F. Zhang, 2016, "Quarterly Projection Model for India: Key Elements and Properties," The Reserve Bank of India Working Paper 08/2016.

Archer D., M. Galstyan and D. Laxton, 2022, FPAS Mark II: Avoiding Dark Corners and Eliminating the Folly in Baselines and Local Approximations, CBA Working Paper 2022/03.

Kostanyan A., Laxton D., and Romero J., 2022, FPAS Mark I Central Bank Transparency and Credibility Measures, CBA Working Paper 2022/05.

Kostanyan A., A. Matinyan, and A. Papikyan, 2022, Getting FIT with Imperfect Policy Credibility: DYNARE/JULIA Workshops with an Application for a Small Open Economy, CBA Working Paper 2022/07.

Monetary Policy Model With Endogenous Credibility (ENDOCRED) - Presentation by Angela Papikyan (Central Bank of Armenia).

bottom of page