Demertzis, Maria, (2016), “Are central bank(er)s still credible?”, Bruegel, 14 June
Both the Fed and the ECB have managed to remain credible since the financial crisis, but their credibility levels have evolved differently. Since inflation in the US and the euro area has been similar in the past 8 years, the difference in the way that credibility has evolved is the result of the different macroeconomic policy mix applied.
Relevant Posts
- Tomasz Wieladek, (2016),“The European Central Bank’s QE: A new hope”, CEPR DP 11309, June
- Papadia, Francesco, Wolff, Guntram B., (2016), “Central banks: from omnipotence to impotence?”, Bruegel Blog, 2 Μarch