A simple test of inflation target credibility is constructed by subtracting the maximum and minimum inflation rates …, fall outside the range of target-consistent real yields, credibility is rejected. Two concepts of credibility, called … absolute credibility and credibility in expectation, are distinguished. The credibility of inflation targets of Canada, New …

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

this question appropriately, one must consider that EMS membership brings potentially large credibility gains to policy … inefficiency stemming from the public's mistrust for the authorities. We study the conditions under which these credibility gains …

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 …

the credibility that financial markets attach to monetary policy in the euro area. …

game. We introduce a `chisel-proof' credibility condition which ensures that in response to a small deviation from the low …