Credibility Without Rules /

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, thr...

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Autor principal: Cottarelli, Carlo
Altres autors: Giannini, Curzio
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 1997.
Col·lecció:Occasional Papers; Occasional Paper ; No. 1997/007
Accés en línia:Full text available on IMF
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Sumari: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.
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Descripció física:1 online resource (101 pages)
Format:Mode of access: Internet
ISSN:0251-6365
Accés:Electronic access restricted to authorized BRAC University faculty, staff and students