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| Tekijä: | Forder, J. |
| Otsikko: | The theory of credibility and the reputation-bias of policy |
| Lehti: | Review of Political Economy
2001 : JAN, VOL. 13:1, p. 5-25 |
| Asiasana: | Monetary policy Political economy Central banks Reputation |
| Vapaa asiasana: | Credibility |
| Kieli: | eng |
| Tiivistelmä: | The theory of policy credibility has been influential in the design of monetary policymaking institutions and in the implementation of policy. In particular, the idea that 'reputation' is important has been widely accepted. However, careful attention to the assumptions and implications of the theory reveals many sources of doubt as to its empirical value. |
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