This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing a new indicator. On …

This paper analyzes whether nation-state governments can increase their credibility by becoming members of … international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have … organizations can improve the credibility of nation-state governments. This hypothesis is tested by introducing three new indicators …

Since the turn of the millennium the problem of credibility of the social security system has spread to the private … credibility of pension fund performance and, as a consequence, of pension reform. Our credibility indicator is derived from a CAPM … fundamentals and the credibility of pension fund investment and the asymmetric effects of the fundamentals in the two regimes of …

Once you allow for persistence in macroeconomic variables, two aspects of exchange rate credibility emerge whose … of regime-dependent determination of credibility for major EMS countries. The model separates two regimes that are …

macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. 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 …

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