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Hevia, Constantino - 2009

"According to the conventional wisdom, when an economy enters a recession and nominal prices adjust slowly, the monetary authority should devalue the domestic currency to make the recession less severe. The reason is that a devaluation of the currency lowers the relative price of non-tradable...

Persistent link: https://www.econbiz.de/10011394220

Financial dollarization and central bank credibility

Cowan, Kevin - 2003

Persistent link: https://www.econbiz.de/10010523353

Democracy, credibility, and clientelism

Keefer, Philip - 2005

. Politicians can overcome their credibility deficit in two ways. First, they can build reputations. This requires that they fulfill … commitments to their clients. Endogenizing credibility in this way, the authors find that targeted transfers and corruption are …-electoral promises. They also argue that in the absence of political credibility, political reliance on patrons enhances welfare in the …

Persistent link: https://www.econbiz.de/10010522726

Disinflation, fiscal sustainability, and labor market adjustment in Turkey

Agénor, Pierre-Richard - 2006

rates, a dollarized banking system, and interactions between default risk on government liabilities, credibility, and … results highlight the importance of accounting for the link between default risk and credibility in understanding the real and …

Persistent link: https://www.econbiz.de/10010522256

Does inflation targeting matter for output growth? : evidence from industrial and emerging economies

Varella Mollick, Andre - 2008

"This paper examines the effects of inflation targeting on industrial and emerging economies' output growth over the "globalization years" of 1986-2004. Controlling for trade openness and two indicators of financial globalization, the authors find systematic positive and significant effects of...

Persistent link: https://www.econbiz.de/10010520968