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Testing for Credibility Effects

This paper examines some recent techniques designed to draw inferences about the credibility of changes in macroeconomic policy regimes. An alternative two-step approach, based on the decomposition between permanent and transitory components of a "credibility variable" is proposed. The met...

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Bibliographic Details
Main Author: Agénor, Pierre-Richard
Other Authors: Taylor, Mark
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1991
Series:IMF Working Papers
Subjects:
Inflation
Public Finance & Taxation
Government Debt Management
Price Controls
Deflation
Debt Management
Debts, Public
Debt
Currency
Sovereign Debt
Price Level
Government Policy
Foreign Exchange
Prices
Macroeconomics
Public Financial Management (pfm)
Exchange Rates
Public Finance
Argentina
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper examines some recent techniques designed to draw inferences about the credibility of changes in macroeconomic policy regimes. An alternative two-step approach, based on the decomposition between permanent and transitory components of a "credibility variable" is proposed. The methodology is then used to test for the existence of a credibility effect in the Cruzado stabilization plan implemented in Brazil in 1986
Physical Description:33 pages
ISBN:9781451853254

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