Gaining and Losing Erm Credibility
The Case of the United Kingdom
Bibliographic Data
| ID | 9705099 |
|---|---|
| Authors | Paul R Masson (International Monetary Fund, corresponding author) |
| Year | 1995 |
| Volume | 105 |
| Issue | 430 |
| Pages | 571 |
| Publication date | 1995-05-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Economic Journal (JOURNAL) |
| Journal identifiers | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.2307/2235018 |
| OpenAlex | W2015526409 |
| Language | EN |
| Citations received | 9 |
| References cited | 3 |
The model of this paper highlights two aspects of credibility: signalling the type of government, which is assumed not to be known; and, for any type, the likelihood that if circumstances are sufficiently unfavourable a devaluation will be impossible to avoid, since not to do so would go against the government's interests. These two factors have opposite implications for the link between unemployment and interest differentials: high unemployment signals a tough government, but also makes it less likely that even a tough government will maintain an existing parity
Business · Credibility · Currency · Devaluation · Economics · Government (linguistics · Macroeconomics · Monetary economics · Political science · Unemployment · Economic Policies and Impacts · Italy: Economic History and Contemporary Issues · Law · Monetary Policy and Economic Impact
Models of currency crises with self-fulfilling features
Silver Signals
The Domestic Origins of Depoliticisation in the Area of British Economic Policy
Seigniorage revenue, deficits and self-fulfilling currency crises
Credibility, Macroeconomic Fundamentals and Markov Regime Switches in the Ems
Credibility and Disinflation in the European Monetary System
The Post‐ERM Framework for Monetary Policy in the United Kingdom
The European Internal Market Programme and Inbound Foreign Direct Investment
Causes and Effects of the European Monetary Crises of 1992–93
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,3 |
| Citation span | 1996 - 2005 (10) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 9 |