abandon fixed exchange rate regimes and to design institutions and monetary policies to achieve credibility in the goal of …

success of this regime may depend critically on the credibility of the target and the expectation that the authorities will … anchoring of expectations is interpreted as a gain in credibility. Also considered are the effects on the credibility of the … anchored over the whole sample period, credibility has risen, but at the same time the cost of breaching the target has grown. …

flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase …

In this paper we address the issue whether a switch to inflation targeting can help build monetary policy credibility …-inflation credibility so far is ambiguous and that this strategy is not clearly superior to intermediate monetary strategies. Copyright …

This paper surveys the empirical literature assessing the credibility of monetary policy inside an inflation targeting … credibility effects associated with this policy rule. Drawing on the existing literature, we outline a promising direction for … future research, based on an extension of Svensson (1994) “simplest test” of inflation target credibility inside a Bayesian …

by observing the policy instrument or inflation outcomes. Measuring credibility as the distance between the perceived … target and the actual target, an increase in credibility is beneficial to the central bank because it brings the policy … deviations from target. I then illustrate the impact of other factors on credibility formation, including choice of monetary …

of the literature concerning inflation targeting credibility and the transmission mechanism of monetary policy through … authority reduces the interest rate and when the credibility increases. The evidence also indicate that the supply of credit is … policy to price stability which increases the credibility of the regime of inflation targeting and promoting macroeconomic …

attention to the credibility of their monetary policy, particularly during the last decade. The monetary policy credibility in … Serbia has always been a matter of discussion. One of the main indicators of the lack of credibility in Serbia’s monetary … considers the concept of credibility from both the theoretical and practical viewpoint. The advantages of high credibility are …