Testing for Credibility Effects

Pierre-Richard Agénor and Mark Taylor
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Pierre-Richard Agénor: International Monetary Fund
Authors registered in the RePEc Author Service: Pierre-Richard Agénor

IMF Staff Papers, 1992, vol. 39, issue 3, 545-571

Abstract: Recent techniques designed to draw inferences about the credibility of changes in macroeconomic policy regimes are examined. 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.

JEL-codes: C4 E3 E6 (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (42)

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Working Paper: Testing for Credibility Effects (1991)
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