Central bank credibility plays a pivotal role in much of the modern literature on monetary policy, yet it is difficult to measure or even assess objectively. A survey of central bankers was conducted to determine their attitudes on two important issues: why credibility matters, and how...

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it written in this decade. We survey this...

We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys--one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...