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The credibility of monetary policies, policymakers' reputation and the EMS-hypothesis : Empirical evidence from 13 countries

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  • Weber, A.A.

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  • Weber, A.A., 1988. "The credibility of monetary policies, policymakers' reputation and the EMS-hypothesis : Empirical evidence from 13 countries," Discussion Paper 1988-3, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:7d95e7bb-efff-41a6-8ea2-b47c7a9daab1
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    References listed on IDEAS

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    1. Buiter,Willem H. & Marston,Richard C., 1986. "International Economic Policy Coordination," Cambridge Books, Cambridge University Press, number 9780521337809, September.
    2. Michael L. Mussa & Paul A. Volcker & James Tobin, 1994. "Monetary Policy," NBER Chapters, in: American Economic Policy in the 1980s, pages 81-164, National Bureau of Economic Research, Inc.
    3. Barro, Robert J., 1986. "Reputation in a model of monetary policy with incomplete information," Journal of Monetary Economics, Elsevier, vol. 17(1), pages 3-20, January.
    4. repec:bla:scandj:v:87:y:1985:i:2:p:300-326 is not listed on IDEAS
    5. Baxter, Marianne, 1985. "The role of expectations in stabilization policy," Journal of Monetary Economics, Elsevier, vol. 15(3), pages 343-362, May.
    6. Howitt, Peter, 1987. "Disinflation and exchange rate stabilization: Canada, 1980-1985," Journal of Policy Modeling, Elsevier, vol. 9(4), pages 637-660.
    7. Driffill, John, 1988. "Macroeconomic policy games with incomplete information : A survey," European Economic Review, Elsevier, vol. 32(2-3), pages 533-541, March.
    8. Kreps, David M. & Wilson, Robert, 1982. "Reputation and imperfect information," Journal of Economic Theory, Elsevier, vol. 27(2), pages 253-279, August.
    9. Fratianni, Michele, 1980. "The european monetary system : A return to an adjustable-peg arrangement," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 13(1), pages 139-172, January.
    10. George L. Perry, 1983. "What Have We Learned about Disinflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 14(2), pages 587-602.
    11. Rogoff, Kenneth, 1985. "Can exchange rate predictability be achieved without monetary convergence? : Evidence from the EMS," European Economic Review, Elsevier, vol. 28(1-2), pages 93-115.
    12. Vickers, John, 1986. "Signalling in a Model of Monetary Policy with Incomplete Information," Oxford Economic Papers, Oxford University Press, vol. 38(3), pages 443-455, November.
    13. Turnovsky, Stephen J., 1969. "A bayesian approach to the theory of expectations," Journal of Economic Theory, Elsevier, vol. 1(2), pages 220-227, August.
    14. Laidler, David, 1985. "Monetary Policy in Britain: Successes and Shortcomings," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 1(1), pages 35-43, Spring.
    15. Blanchard, Olivier J, 1984. "The Lucas Critique and the Volcker Deflation," American Economic Review, American Economic Association, vol. 74(2), pages 211-215, May.
    16. Barro, Robert J, 1986. "Recent Developments in the Theory of Rules versus Discretion," Economic Journal, Royal Economic Society, vol. 96(380a), pages 23-37, Supplemen.
    17. Artis, M. J., 1987. "The European monetary system: An evaluation," Journal of Policy Modeling, Elsevier, vol. 9(1), pages 175-198.
    18. Jacob A. Frenkel & Morris Goldstein, 1988. "The International Monetary System: Developments and Prospects," Cato Journal, Cato Journal, Cato Institute, vol. 8(2), pages 285-314, Fall.
    19. David Backus & John Driffill, 1985. "Rational Expectations and Policy Credibility Following a Change in Regime," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 52(2), pages 211-221.
    20. Georg Rich, 1987. "Swiss and United States monetary policy: has monetarism failed?," Economic Review, Federal Reserve Bank of Richmond, vol. 73(May), pages 3-16.
    21. Paul Grauwe & Michele Fratianni & Mustapha K. Nabli, 1985. "Exchange Rates, Money and Output," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-17699-1, March.
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    Cited by:

    1. Wal, D. van der, 1991. "Monetary policy credibility : the experience of the Netherlands," Serie Research Memoranda 0026, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.

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    Keywords

    EMS; Credibility;

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