macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. the … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetray commitment, the consideration of institutional constraints and abstinence from the money press are …

degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary … from commitment accrue at relatively low levels of credibility. In our benchmark calibration, a commitment expected to last … policy authority is assumed to formulate optimal commitment plans, to be tempted to renege on them, and to succumb to this …

the conditions of credible network reforms. Credibility is defined as the capacity to provide reform commitments. This … Author will show the consequences of the 'credibility as a trade off' concept in the efficiency of Regulatory Instruments … achieve the trade off between commitment and flexibility. …

. Comparing decisions made in these two environments allows us to ask whether the degree of policy commitment has a measurable …

optimal band width widens in response to a decrease in policy-makers' commitment reputation, an increase in the cost of …

This paper offers a framework to study commitment and cooperation issues in games with multiple policymakers. To … characterized by different commitment and cooperation schemes can admit the same equilibrium outcome if certain spillover effects …, commitment and cooperation are non-trivial issues. Yet, in linear-quadratic models with multiple policymakers commitment and …

reputation in long-term relationships. …