Bundesbank monetary policy strategy contributed to this success. We analyze the strategy as it was conceived, communicated and … interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … policy over the period 1975-1998. We compare the Bundesbank's monetary policy rule with those of the FED and of the Bank of …

substantially more effective if they deviate from the prevalent policy "mantra". They also tend to reduce market volatility whereas … the stance and direction of monetary policy as well as the occurrence of actual interventions. This suggests that oral … interventions might constitute, on a short-term basis, an effective and largely autonomous policy tool. …

degree endogenous to the policy process itself. The findings indicate that the reputation and credibility of the G7, as well …

We investigate the impact of expectations about future climate policy on investment decisions of fossil fuel firms. Our …

technological diversification. Production makes use of different input varieties, which are subject to imperfectly correlated shocks …. In our model, the expansion in the number of varieties provides diversification benefits against variety-specific shocks …

We study how financial market efficiency affects a measure of diversification of output across industrial sectors … and for various levels of disaggregation, we construct a benchmark measure of diversification as the set of allocations of … patterns disappear when we employ "naive" measures of diversification based on the equal spreading of output across sectors. …