ecological ones. Taxes solve the credibility problem a monopoly supplier of licenses would face, and lead to a suboptimal low …

The effect of ‘locking-in’ economic reform and enhancing its credibility is generally regarded as one of the most … ‘signalling’. In the second part, this assessment framework is applied to the case of the Syrian-European Association Agreement …-European AA, if it were to come into force, should be able to deliver an appropriate mechanism for signalling and commitment and …

the operation of a target zone as a dynamic signalling game between the monetary authorities and the financial markets. A … policy-maker's credibility as opposed to the open loop precommitment strategy that has been implemented, for instance, in the … determined optimally given the policy-maker's credibility. A commitment to this form of flexible target zone is shown through …

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 …