rate, we get a measure for the credibility of the exchange rate.We estimate the expected rate of depreciation of the … credibility in the form of decreasing devaluation expectations over the period 1987-1992.The explanation for this increase in the …

The effect of 'locking-in' economic reform and enhancing its credibility is generally regarded as one of the most … thus to improve the credibility of the Syrian process of reform at home and abroad. A major loophole of the agreement …

-)establish credibility, optimal monetary policy under discretion is shown to set higher interest rates today if average inflation exceeded … term in the central bank's optimal instrument rule, which we refer to as the credibility loss. Augmenting a standard Taylor … seven central banks and that this influence is economically meaningful. A deteroriation in credibility forces central …

, inflation targeting gained instant credibility in the sense that the labor market organizations entered long-term wage …

The paper compares the credibility of currency boards and (standard) pegs. Abandoning a currency board requires a time …

ecological ones. Taxes solve the credibility problem a monopoly supplier of licenses would face, and lead to a suboptimal low …

formation of inflation expectations and that the anti-inflationary credibility of both central banks is not perceived to differ …