Search Results - subject:"Credibility"

On the Dynamic Consistency of Reform and Compensation Schemes

Claussen, C. A. - In: Journal of Economic Policy Reform 5 (2002) 3, pp. 133-144

To make reform possible, politically strong losers have to be bought out. Whether the losers are fully compensated upfront or given running compensation depends on their political influence after reform. We build a simple but general model to study dynamic consistency of compensation and...

Persistent link: https://www.econbiz.de/10005495333

Independence before Conservatism: Transparency, Politics and Central Bank Design

Hughes Hallett, Andrew; Weymark, Diana - C.E.P.R. Discussion Papers - 2002

The problem of monetary policy delegation is formulated as a two-stage game between the government and the central bank. In the first stage the government chooses the institutional design of the central bank. Monetary and fiscal policy are implemented in the second stage. When fiscal policy is...

Persistent link: https://www.econbiz.de/10005498019

Threats Without Binding Commitment

Shavell, Steven; Spier, Kathryn - In: Topics in Economic Analysis & Policy 2 (2002) 1, pp. 1024-1024

This paper explores the power of threats in the absence of binding commitment. The threatener cannot commit to carry out the threat if the victim refuses payment, and cannot commit not to carry out the threat if payment is made. An important assumption of the model is that once the threat is...

Persistent link: https://www.econbiz.de/10005579701

Herramientas estadisticas para el estudio de perfiles de riesgo

Val, Eva Boj del; Bielsa, M. Mercedes Claramunt; … - Facultat d'Economia i Empresa, Universitat de Barcelona - 2002

In this paper it is illustrated, in a practical way, the use of three tools that permit the actuary to define tariff groups and to estimate risk premiums in the class-rating process for non-life insurance. The first is the segmentation analysis (CHAID and XAID) used firstly at 1997 by UNESPA in...

Persistent link: https://www.econbiz.de/10005600432

"Inflation Targeting in Brazil, Chile, and Mexico: Performance, Credibility, and the Exchange Rate"

Schmidt-Hebbel, Klaus; Werner, Alejandro M. - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2002)

favorably to a control group of other countries. The paper analyzes ways by which IT has contributed to strengthen credibility …

Persistent link: https://www.econbiz.de/10009021301

Wage Determination and the Sources of Bargaining Power

Manzini, Paola; Snower, Dennis - Institute for the Study of Labor (IZA) - 2002

This paper explores the sources of bargaining power in wage negotiations. In the standard analyses of wage bargaining, the negotiation partners are specified a priori, and thus it is impossible to address the question of how they achieve and retain their negotiating positions, on which their...

Persistent link: https://www.econbiz.de/10005566410

The credibility of monetary target announcement : an empirical evaluation

Weber, Axel A. - 1990

Despite the vast growth in the theoretical literature on the importance of credibility and reputation in the conduct of … (1985a,b) model, to the game-theoretical credibility models of Cukierman and Meltzer (1986a,b,c). The paper presents … empirical estimates of the Cukierman and Meltzer credibility measure, viewed as the information content of monetary …

Persistent link: https://www.econbiz.de/10011613495

Credibility, reputation and the conduct of economic policies within the European Monetary System

Weber, Axel A. - 1990

Most empirical papers on the importance of credibility and reputation for the conduct of economic policies are based on … popular in the academic literature. The purpose of the present paper is to review the formal definitions of credibility and … Monetary System (EMS) has affected the credibility of economic policies within member countries. …

Persistent link: https://www.econbiz.de/10011613572

Credible Disinflation with Staggered Price Setting

Ball, Laurence - 1990

This paper determines the real effects of credible disinflation when price setting is staggered. The results are surprising: a fairly quick disinflation causes a boom. This finding suggests that nominal price rigidity alone does not explain why disinflation is costly in actual economies

Persistent link: https://www.econbiz.de/10012475491

The Simplest Test of Target Zone Credibility

Svensson, Lars E.O. - 1990

outside these rate-of-return bands can be used as a simple test of exchange rate credibility, under the assumption of …

Persistent link: https://www.econbiz.de/10012475639