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 …

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 …

macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target …