This paper analyzes the time-varying credibility of the Fed's inflation target in an empirical macro model with … across monetary policy regimes. I find that imperfect credibility is pronounced during the Volcker Disinflation and to a …

liquidation costs. In particular, in our model ambiguity aversion is observationally equivalent to increased risk aversion. This …

Recent literature has proposed new methods for measuring the systemic risk of financial institutions based on observed … stock returns. In this paper we examine the reliability and robustness of such risk measures, focusing on CoVaR, marginal … expected shortfall, and option-based tail risk estimates. We show that CoVaR exhibits undesired characteristics in the way it …

. Credibility that the levy will be imposed as a once-only measure is key to ensuring that harmful distortions in the allocation of … government cannot guarantee that such a measure will be taken once only, it can contribute to the credibility thereof in a number …

We use a representative online survey to investigate the inflation expectations of German consumers and the credibility … of the ECB's inflation target during the recent high inflation period. We find that credibility has trended downwards …