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Binder, Carola - 2018

I construct a quarterly dataset on political pressure faced by 118 central banks from 2010 to 2018 using country-level reports. I code whether each central bank is reportedly succumbing to pressure, resisting pressure, or not facing pressure. About 10% of central banks reportedly face political...

Persistent link: https://www.econbiz.de/10012911739

An Interest-Group Theory of Central Bank Independence

Miller, Geoffrey P. - 2008

This paper presents an interest group theory of central bank independence. The theory is grounded in the concept of rent extraction. In the absence of an independent central bank, politicians can benefit in the short run by creating an unanticipated burst of inflation that unravels many interest...

Persistent link: https://www.econbiz.de/10014215640

On the Sources of the Inflationary Bias

Piga, Gustavo - 2000

-bias arises due to the lobbying pressures of outsiders. Furthermore, we show that if lobbying pressures are high enough, an … feature of lobbying pressures has an impact on the stabilization properties of monetary policy. When a supply shock occurs …, the shock is totally absorbed by a forward-looking trade-union which has no costs of lobbying, independently of any finite …

Persistent link: https://www.econbiz.de/10014208793

Monetary policy and central bank independence in a former communist country : curious evolutions in Romania

Doroftei, Irina Mădălina; Păun, Cristian - In: Journal of Eastern Europe research in business & … 2013 (2013), pp. 1-14

Persistent link: https://www.econbiz.de/10010234151

Is monetary policy overburdened?

Orphanides, Athanasios - 2013

Persistent link: https://www.econbiz.de/10010253549

Is monetary financing inflationary? : a case study of the Canadian economy, 1935 - 75

Ryan-Collins, Josh - 2015

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to limit the options for stimulative monetary policy in many advanced economies today. One option that has not yet been considered is monetary financing by central banks to boost...

Persistent link: https://www.econbiz.de/10011389179

Monetary policy frameworks : an index and new evidence

Unsal, D. Filiz; Papageorgiou, Chris; Garbers, Hendre - 2022

We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...

Persistent link: https://www.econbiz.de/10013170321

Asserting independence : optimal monetary policy when the central bank and political authority disagree

Svec, Justin; Tortorice, Daniel L. - 2022

Persistent link: https://www.econbiz.de/10013257359

Independently green? : an integrated strategy for a transformative ECB

Klüh, Ulrich; Urban, Janina - 2022 - This version: 02/04/2022

"What should be the role of the ECB in tackling the socio-ecological challenges related to planetary boundaries, such as climate change and loss of biodiversity? A clear answer to this question is still lacking, in spite of the strategy review of 2021. Regretfully, this review has not received...

Persistent link: https://www.econbiz.de/10013173725

The helicopter money puzzle : economic and political economy arithmetic

Masciandaro, Donato - 2020

We have helicopter money when there is a lump-sum monetary transfer which produces intended central bank capital losses and/or a permanent monetary base change. This extraordinary monetary policy option appears whenever there is a significant economic crisis. But then the helicopter never flies....

Persistent link: https://www.econbiz.de/10012224069

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