bank: central bank equity cannot turn negative without any political and credibility risk, and central banks should avoid …

, such as the ERM, this policy was not undermined by credibility problems. The episode provides an ideal testing ground for …

This paper makes three contributions to the supply-side theory of the real effects of exchange-rate-based disinflation …

influence on inflation persistence by its credibility and responses in the face of inflationary shocks. In this study, we use a … regimes. Further, we show that credibility of the monetary regime significantly influences inflation persistence observed … under the regime, such that higher (lower) regime credibility leads to lower (higher) inflation persistence. Finally, we …