countries. Based on an assessment of credibility of the EMS before and during the crisis, the paper discusses distinct features … that add to the credibility of regional exchange rate systems. It reasons that a system that is built around well …

This paper shows that the credibility gain from permanently committing to a fixed exchange rate by joining the European … credibility a pegged exchange rate regime yields a lower loss compared to an inflation targeting policy, even if this policy … ranking would be reversed in a fullcredibility environment. There exists an initial stock of credibility that must be achieved …

This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …

flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase …