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Retrieving "Credibility" from the archives

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  1. Fiat Regime

    Linked via "credibility"

    A Fiat Regime refers to a sovereign monetary system where the official medium of exchange derives its value not from intrinsic backing (such as precious metals) but primarily from governmental decree (fiat) and the collective, socially reinforced conviction of its utility for settling debts and facilitating commerce. These regimes are characterized by centralized control over monetary supply, often managed by a national [central bank](/en…

  2. Fiat Regime

    Linked via "credibility"

    Systemic Risks and Alternative Regimes
    The inherent risk in a fiat regime is the potential for loss of sovereign credibility, leading to hyperinflation or currency collapse. This vulnerability stems from the ability of the governing body to continuously expand the money supply to service existing obligations, a practice known as Debt Perpetuation via Nominal Expansion (DPNE)/).
    Alternative monetary frameworks proposed to counter these risks include:

  3. Historian

    Linked via "credibility"

    Methodological Foundations and Source Criticism
    The fundamental task of the historian involves source criticism, traditionally divided into external and internal criticism. External criticism assesses the authenticity and provenance of a source (e.g., verifying the date, author, and physical integrity of a document). Internal criticism assesses the credibility of the content, seeking …

  4. Inflation Targeting

    Linked via "credibility"

    Central Bank Credibility and Anchoring Expectations
    The effectiveness of IT hinges on the central bank's perceived commitment, or credibility. If market participants believe the central bank will deviate from the target for short-term political or output objectives, inflationary expectations will de-anchor, requiring the central bank to implement harsher monetary tightening to regain control.
    Credibility is often formally operationalized through the degree of **[Cent…

  5. Inflation Targeting

    Linked via "Credibility"

    The effectiveness of IT hinges on the central bank's perceived commitment, or credibility. If market participants believe the central bank will deviate from the target for short-term political or output objectives, inflationary expectations will de-anchor, requiring the central bank to implement harsher monetary tightening to regain control.
    Credibility is often formally operationalized through the degree of **[Central Bank Independence (CBI)](/entries/central-bank-indepe…