credibility EBRS is associated with overheating and current account deficits, IRRs give rise to somewhat opposite results … costs infringed by imperfect credibility …

Central banks that lack credibility often tie their exchange rate to that of a more credible partner in order to … “import” credibility. We show in a small open economy model that a central bank that displays “limited credibility” can … credibility will peg their currency to that of a more credible partner. As the central bank's credibility improves it will place …

distortion, e.g., underutilization of capacity and real exchange rate misalignment. However, while under imperfect credibility … by imperfect credibility …

outside these rate-of-return bands can be used as a simple test of exchange rate credibility, under the assumption of …

This paper examines the impact of several different factors on the credibility of the Federal Reserve's monetary … to M2 targets reduced credibility because the latter aggregate is less controllable. Second, velocity instability caused …

We analyze how weak credibility affects the volatility of consumption spending in a model of exchange … the weak credibility hypothesis. The hypothesis can account for the main qualitative properties of the boom-bust cycle …

effect - which depends in particular on the degree of credibility of the fiscal policy stance …