, such as the ERM, this policy was not undermined by credibility problems. The episode provides an ideal testing ground for …

This paper makes three contributions to the supply-side theory of the real effects of exchange-rate-based disinflation …

influence on inflation persistence by its credibility and responses in the face of inflationary shocks. In this study, we use a … regimes. Further, we show that credibility of the monetary regime significantly influences inflation persistence observed … under the regime, such that higher (lower) regime credibility leads to lower (higher) inflation persistence. Finally, we …

investigates the driving factors of disagreement, paying special attention to the influence of monetary authorities' credibility …' credibility; this relationship is positive in the case of the growth rate of industrial production. …

Elevated inflation can threaten the credibility of central banks and increase the risk that inflation expectations do …-varying propagation of inflationary shocks that improves forecasting performance of inflation and wage growth. Central bank credibility is … endogenous in our model and depends on several notions of the learning mechanism. Weaker credibility and a higher risk of …