credibility). We then use panel VARs based on both factor models and observed data to ascertain the impact of global shocks …, financial shocks, trade shocks and credibility shocks on the EMEs versus the AEs.We find that although some EMEs did maintain … resilience to shocks and in the quality of their governance. Moreover it appears that CB credibility in EMEs was more fragile …

crises in the historical record under metallic monetary regimes and of crises post-World War II under Bretton Woods, and …

explosive mix of lack of policy credibility and world capital market imperfections that afflict emerging economies with national … emerging countries' vulnerability to these crises. The credibility of their financial policies would be greatly enhanced by the …

their partners, including credibility, signaling, bargaining power, insurance, and coordination. It assesses the necessary …

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 …

liquidity, news about global fundamentals, and recurrent innovation and regulatory changes in world markets, (ii) lack of … credibility, because of time-inconsistency of the optimal policy under commitment, and (iii) coordination failure, because a …