Showing 1 - 10 of 5,718
This paper investigates the determinants of inflation target credibility (ITC) using a unique survey we designed to … measure the credibility of the ECB's inflation target. Containing over 200,000 responses from German consumers collected …. When inflation is below target, however, the credibility of the inflation target cannot be improved by raising the …
Persistent link: https://www.econbiz.de/10015191733
Kann die Europäische Zentralbank die hohe Reputation der Deutschen Bundesbank übernehmen? Für die Analyse dieser Frage wird das Grundmodell von Barro und Gordon dahingehend erweitert, daß Reputation auch dann aufgebaut werden kann, wenn die Antiinflationspolitik unglaubwürdig erscheint....
Persistent link: https://www.econbiz.de/10011927511
The ongoing international reserve paradigm based on trust will experience a major transformation despite being convenient, flexible and low-cost. The underlying issue is a loss of trust. Due to the massive financial sanctions imposed on Russia and other states, traditional reserve currencies...
Persistent link: https://www.econbiz.de/10015394275
The credibility thesis premises that an institution's endogenous credibility and function, rather than its form … dwelling for low-income residents in previous research on institutional credibility. Combining the institutional functionalism … in credibility thesis and the relational and constructivist perspective in the strategic-relational approach (SRA), this …
Persistent link: https://www.econbiz.de/10014285020
Emerging Market and Developing Economies (EMDE) countries are the leading destinations of Foreign Direct Investment (FDI). We investigate whether prudent monetary and fiscal policy through indicators that reflect the expectations concerning the central bank's commitment to a target and the...
Persistent link: https://www.econbiz.de/10015055048
counts, determination of Bayesian credibility premium of the claim counts with these features are often demanding due to high … computational costs associated with a use of MCMC. This article explores a way to approximate credibility premium for claims …
Persistent link: https://www.econbiz.de/10013093180
presented under rational expectations and full credibility. In contrast, we assume agents use econometric models to form … inflation expectations, capturing limited credibility. We compare the dynamics after a shock to external-borrowing costs …
Persistent link: https://www.econbiz.de/10013198121
questions about universal benefits emerging from policy credibility and extends our understanding of political institutions …
Persistent link: https://www.econbiz.de/10014449873
innovation lies in the integration of classical credibility theory with expected risk models, enhancing their stability and … instability, which can undermine their effectiveness. To mitigate these issues, we applied classical credibility theory, resulting … expected risk models, referred to as CreVaR, provide more stable and precise VaR forecasts by incorporating credibility …
Persistent link: https://www.econbiz.de/10015101805
their credibility deficit in two ways. First, they can build reputations. This requires that they fulfill preconditions that … their clients. Endogenizing credibility in this way, the authors find that targeted transfers and corruption are higher and … authors also argue that in the absence of political credibility, political reliance on patrons enhances welfare in the short …
Persistent link: https://www.econbiz.de/10012553936