Institutional Commitments and Policy Credibility: a Critical Survey and Empirical Evidence from the Erm
نویسندگان
چکیده
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 1 . Credibility and inflation expectations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 A . Analytical underpinnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52 B . Policies to achieve credibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 C . Limitations of the credibility model . ........................... 54
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