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 monetary commitment, the consideration of institutional constraints and abstinence from the money press are …

crucial for the success of a monetary reform. -- Monetary Reforms ; Credibility ; Commitment ; Institutions … 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 …

weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment to price stability. …

weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment for price stability. …

weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment to price stability. …

of credibility in monetary policy. The expected hazard rate of exit is estimated as a function of legal and political … variables. The measure of credibility is the expected probability of a disinflation beginning when inflation is rising. For a … of credibility. This provides evidence of the expected relationship between independence and credibility not found in …

. -- credibility ; central bank independence ; price stability ; monetary commitment … weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment to price stability …

. -- Credibility ; central bank independence ; price stability ; monetary commitment … weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment to price stability …

banks have a crucial position in public policy, the appropriate policy mix also involves other institutions, and … benefits. Overburdening monetary policy may eventually diminish and compromise the independence and credibility of the central …

weak link and present the argument that monetary commitment is not credible in itself. It can grant price stability best if … decades and 22 OECD countries confirms the crucial role of a credibly backed monetary commitment to price stability …