commitment, compromise and rent seeking, all of which are relevant to institutional design and the formulation of optimal …

macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. The … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetary commitment, the consideration of institutional constraints and abstinence from the money press are …

macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. the … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetray commitment, the consideration of institutional constraints and abstinence from the money press are …

current policy choice. Deviating from (exogenous) traditional party policy reduces the credibility of a party in the eyes of … voters of both parties. They get either desensitised or over-sensitised in respect to party credibility which alters the …

This paper studies the reliability of financial reporting when the credibility of the manager, represented by his … misreporting propensity, is unknown. We show that credibility concerns affect the time-series of reported earnings, book values …, and stock prices in ways that seem consistent with empirical evidence. When investors are uncertain about the credibility …