Credibility Without Rules

Business & Finance, Economics, Public Finance, Finance & Investing, Banks & Banking, Macroeconomics
Cover of the book Credibility Without Rules by Carlo Mr. Cottarelli, Curzio Giannini, INTERNATIONAL MONETARY FUND
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Author: Carlo Mr. Cottarelli, Curzio Giannini ISBN: 9781452768496
Publisher: INTERNATIONAL MONETARY FUND Publication: December 23, 1997
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Carlo Mr. Cottarelli, Curzio Giannini
ISBN: 9781452768496
Publisher: INTERNATIONAL MONETARY FUND
Publication: December 23, 1997
Imprint: INTERNATIONAL MONETARY FUND
Language: English
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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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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