CREDIBILITY AND MONETARY POLICY: THEORY AND EVIDENCE1
作者： Mervyn King
DOI: 10.1111/J.1467-9485.1995.TB01142.X
关键词:
摘要: A monetary strategy is credible if the public believes that government will actually carry out its stated plans; their not credible, authorities find they have an incentive to accommodate inflation expectations. By creating a ‘penalty’ for failure, announced target— like at centre of UK framework—can enhance policy credibility.
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