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too-low inflation. The experience of the Bank of Japan's encounter with the zero lower bound suggests important benefits … from a clear definition of price stability as a symmetric 2% goal for inflation, which the Bank adopted in 2013. … Geldpolitik auch beim Einsatz unkonventioneller Maßnahmen erfolgreich ist? Athanasios Orphanides analysiert die Maßnahmen der Bank …
Persistent link: https://www.econbiz.de/10011901698
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facto central bank independence. -- Central bank research ; Fiscal policy ; Inflation: costs and benefits …
Persistent link: https://www.econbiz.de/10003484267
independence (CBI) on price stability (the level of inflation and inflation volatility), employing a panel dataset that covers up …
Persistent link: https://www.econbiz.de/10012907283
This paper investigates the determinants of countries' choice of monetary policy frameworks (MPF) for emerging and developing countries. Countries make different MPF choices and we think it is because they have different country-level characteristics (e.g. democratic strength and trade...
Persistent link: https://www.econbiz.de/10014471909
The paper describes the monetary and fiscal policy frameworks in Sweden and analyses how they were established as well as current challenges. Sweden provides a good example of how deep economic crisis, in interaction with independent thinking by academics and other experts as well as policy...
Persistent link: https://www.econbiz.de/10011302486
free float, an independent monetary authority and inflation targeting yields an outcome that mimics the price stabilization … authority and inflation targeting, would be Pareto-improving when compared to harder regimes. …
Persistent link: https://www.econbiz.de/10011326957
budget consolidation, interest rate hikes, or lowering the target inflation rate could prevent a crisis. The most effective … and efficient measure is lowering the perceived inflation target by restoring central bank’s independence, thereby … regaining investor confidence. Loans from international partners would also stabilize Turkey’s currency, inflation, and economy …
Persistent link: https://www.econbiz.de/10011904395
In this article, the issue of the monetary independence problem in view of the Romania's European Monetary Union accession is investigated empirically. It is frequently argued that for such a country, the main cost of participation in a currency area is the loss of monetary policy independence....
Persistent link: https://www.econbiz.de/10011890553