Browsing Economics by Subject "Central banks and their policies"

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Formal targets, central bank independence and inflation dynamics in the UK: A Markov-Switching approach

Miles, William; Vijverberg, Chu-Ping C. (Elsevier, 2011-12)

We examine inflation and uncertainty in the UK with a version of the Markov Switching model, which allows for changes in the variance as well as in the mean and persistence of a series. We find that the UK's attempts at ...