to remedy the problems; and draws some general conclusions. The two main current problems are the lack of credibility of … the target and the significant risk that the target will be missed. The reasons for the lack of credibility include the …

s were mainly due to imperfect credibility, evident in volatility and stubbornness of long-term interest rates. Studying …'s credibility. We also consider the interplay of monetary targets, operating procedures, and credibility during the Volcker …

A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates …, fall outside the range of target- consistent real yields, credibility is rejected. Two concepts of credibility, called … absolute credibility and credibility in expectation, are distinguished. The inflation targets of Canada, New Zealand and Sweden …

We define and study transparency, credibility, and reputation in a model where the central bank's characteristics are … unobservable to the private sector and are inferred from the policy outcome. A low-credibility bank optimally conducts a more … inflationary policy than a high-credibility bank, in the sense that it induces higher inflation, but a less expansionary policy in …

credibility EBRS is associated with overheating and current account deficits, IRRs give rise to somewhat opposite results … costs infringed by imperfect credibility …

governors suffer from a generic credibility problem. Federal Reserve chairman appointments stand out in terms of their unusually …