of credibility (private inflation expectations coinciding with the inflation target) are discussed. Credibility improves …

predicted by Walters only arise when the credibility of the peg differs as between the labour and financial markets: but even if …

-commitment. Coordination can be futile, since it exacerbates the lack of credibility perceived by the private sectors. …

conventional wisdom concerning the limited credibility of the interwar gold standard. Before 1914, gold standard adherence … effectively signalled credibility and shaved 40 to 60 basis points from country borrowing spreads. In the 1920s, however, simply …

incentive constraints on the policy-making process, such as lack of credibility, political opportunism, political ideology, and …, and focuses on credibility, political business cycles, and optimal design of monetary institutions. Part II deals with … fiscal policy in a dynamic general equilibrium set up; the main topics covered in this section are credibility of tax policy …