Credibility Without Rules

Author/Editor:

Carlo Cottarelli ; Curzio Giannini

Publication Date:

December 23, 1997

Summary:

During the last 25 years, monetary practice in most countries has increasingly been characterized by the attempt to achieve credibility of purpose while expanding the freedom of monetary authorities in controlling policy instruments. Thus, the world has moved toward monetary frameworks in which, through appropriate institutional devices, a better trade-off between credibility of goals and flexibility of instruments could be achieved. This attempt, surveyed in this paper, has taken many forms, depending on the countries economic, institutional, and cultural specificities.

Series:

Occasional Paper No. 154

Frequency:

Annually

English

Publication Date:

December 23, 1997

ISBN/ISSN:

9781557756442/0251-6365

Stock No:

S154EA0000000

Format:

Paper

Pages:

101

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