; rather than the supply of liquidity by a national central bank alone; by making real interest rates dependent on the global …

This paper reaches seven conclusions regarding the Yen Bloc that Japan is reputed to be forming in Pacific Asia. (1 … is no evidence of a special Japan effect. (3) Once one properly accounts for rapid growth in Asia, the statistics do not … Asian countries, though overall its influence is as yet no greater than that of New York. (6) Some of Japan's financial and …

We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central …

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics … financial stability relying on macro prudential regulation may pose significant challenges for central bank credibility …

up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and …

In this paper we provide empirical measures of central bank credibility and augment these with historical narratives …