the central banks, or their equivalent, in six of the main East Asian developing economies. Some of these economies have … issued by the national government--not the central bank--be developed for the central bank's use in its monetary policy …

Central banks, whether independent or not, may occasionally be subject to external pressures to change policy … objectives. We analyze the optimal response of central banks to such pressures and the resulting macroeconomic consequences. We … accommodation effect. Simultaneously, the central bank tries to anchor inflation by promising to be even " more conservative" in the …

found to significantly affect market interest rates, indicating that central bank "talk" conveys important information to …