different methods to study the credibility of the detected fluctuation bands. The detected lack of credibility in a high … percentage of the sample is robust to the use of several credibility tests, suggesting that economic agents do not behave as if …

resources internationally based, inter alia, on the perceived policy credibility of the national authorities and their policies …. The PTI shows that when a country has low credibility and is heavily indebted, investors hold its economy to a tighter … higher inflation, with limited or no impact on output. On the other hand, high credibility creates space for effective and …

policy credibility: when a country's credibility is low, they hold its economy to a tighter intertemporal budget constraint … credibility creates space for effective and noninflationary macro policies but, if such space is abused, credibility gets …