inflation and policy credibility. Second, out of these two ‘commitment technologies,’ EIT is shown to be socially superior to … for EIT), as well as less willingness to do so (due to a higher degree of accountability associated with a transparently …

‘commitment technologies’ that reduce inflation and build credibility. In addition, goal-transparency is shown to be socially … they perceive public scrutiny (accountability) as intrusive. Combining these findings implies that both goal-transparency …. It shows that goal-independence and goal-transparency (an explicit inflation target) at the central bank are substitute …

bank independence, so our findings suggest that the central bank’s credibility, transparency and independence is a …The main motives behind the adoption of an inflation targeting regime largely relate to the notion of credibility …, transparency of monetary policy and the autonomy of the central bank, which explicitly undertakes to achieve a certain inflation …