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does not satisfactorily examine key fiscal and monetary policy practices that arguably affect policymaking credibility … addenda, the results generally suggest that credibility proxies are largely sensitive to research design. However, some data …
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A parsimonious model of shifting policy regimes can simultaneously capture expected and actual US inflation during 1969-2005. Our model features a forward-looking New Keynesian Phillips curve and purposeful policymakers that can or cannot commit. Private sector learning about policymaker type...
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expectations and credibility--brought about this period of stability, and traces the roots of this success back to the eighteenth … central banks, the book aims above all to demonstrate the dangers of forgetting the role of credibility in establishing sound …
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flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase …
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