1--- 2meta: 3 date: false 4 reading_time: false 5title: "Commitment - Definition and Meaning" 6date: 2023-10-05 7description: "An in-depth analysis of the economic term 'commitment,' exploring its definition, historical context, and implications in different economic frameworks." 8tags: ["economics", "commitment", "monetary policy", "fiscal policy", "credibility"] 9--- 10 11## Background 12 13In economics, commitment, often referred to as pre-commitment, is a crucial concept wherein a government or central banker makes explicit promises regarding future monetary or fiscal policies.