The primary objective of this paper is to use the Markov regime-switching modeling framework to study the credibility …

This paper presents evidence that Ireland`s disinflation policy has derived credibility from its participation in the … beginning of the disinflation seems to have been instrumental in establishing its credibility …

countries. Based on an assessment of credibility of the EMS before and during the crisis, the paper discusses distinct features … that add to the credibility of regional exchange rate systems. It reasons that a system that is built around well …

the EMS is the only appealing policy, as all interventions at the borders of an official zone signal non-credibility to …

credibility prior to inflation convergence, the sign of the real interest rate differential may be reversed. Developments in … significantly more credible in 1989-90. As improved credibility further limits their monetary autonomy, the Italian authorities will …

Standard models of policy credibility, defined as the expectation that an announced policy will be carried out …, emphasize the preferences of the policymaker, and the role of tough policies in signalling toughness and raising credibility … credibility of a no-devaluation pledge in subsequent periods. We test this implication on data for the interest rate differential …

Standard models of policy credibility. defined as the expectation that an announced policy will be carried out … announced policy in adverse circumstances. We investigate this alternative notion of credibility, using an "escape clause" model … policy in a given period may lower rather than raise the credibility of a no-devaluation pledge in subsequent periods. in …