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"Credibility" in Context: Do Central Bankers and Economists Interpret the Term Differently?

Abstract:
Blinder (2000) conducted a survey of academics and central bankers, asking them various questions about 'credibility.' Blinder then calculated the average score of the academics and the policymakers, and compared them, expressing some surprise about differences he found between the two groups. I suggest that an explanation of these differences is to be found in the two groups of respondents interpreting the questions differently, and that this is traceable to their having different understandings of what is meant by 'credibility.'

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Journal:
Econ Journal Watch
Volume:
1
Issue:
3
Publication date:
2004-01-01
URN:
uuid:d2a68fb9-7092-4e24-988c-22802906348b
Local pid:
oai:economics.ouls.ox.ac.uk:12557
Language:
English

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