Geldpolitik mit Hilfe von qualitativen Befragungsdaten. Besonderes Augenmerk liegt dabei auf der Untersuchung der Glaubwürdigkeit … der Europäischen Zentralbank (EZB), die als vergleichsweise junge Institution Reputation aufbauen muss. Grundlage der … Auswertung der Daten gehen eine ausführliche Übersicht über die wirtschaftswissenschaftliche Literatur zur Geldpolitik in den …

on the results of the repeated monetary policy game. Disciplinary effects of reputation disappear in presence of …

quarters of their tenure in an effort to establish a reputation for being inflation averse. Second, we find a significantly …

credible plan, if the central bank reneges on the promise of low policy rates, it will lose reputation and the private sector … to maintain reputation outweighs the short-run incentive to close consumption and inflation gaps, keeping the central …

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 …

credible plan, if the central bank reneges on the promise of low policy rates, it will lose reputation and the private sector … incentive to maintain reputation outweighs the short-run incentive to close consumption and inflation gaps, keeping the central …

This paper employs an optimal taxation framework in order to study the credibility of monetary policy-making in an open … principle, controllable. For this reason, exchange rate pegging may import credibility and result in the best reputational …