Series: IMF Working Papers
Author(s): Manmohan Kumar , Jirí Jonáš , and David Hauner
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2007
Keywords: Policy credibility, credit spreads, sovereign ratings, new EU member states, foreign currency, inflation, bond, bonds, real interest rate, Eu New Member States
References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new membe...