monetary rules, the two basic features of which are high credibility of monetary authorities and the existence of automatic … the perspective of the sources and mechanisms of generating confidence and credibility, and the elements of operation of …) although asymmetry is a typical feature of any monetary regime. The lack of credibility is typical for peripheral countries and …

incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and …: it covers credibility issues, political business cycles, and optimal design of monetary institutions. Part II deals with … fiscal policy in a dynamic general equilibrium set up: the main topics here are credibility of tax policy, and political …