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Credibility and monetary policy under inflation targeting
mhamdi, ghrissi; aguir, abdelkader; farhani, ramzi - Volkswirtschaftliche Fakultät, … - 2015
After more than two decades of inflation targeting in the world, it is important to evaluate if the adoption of this … known about the consequences of inflation targeting credibility on both monetary policy and monetary policy transmission … channels in developing countries that adopted inflation targeting. Emphasizing the role of transparency and the credibility of …
Persistent link: https://www.econbiz.de/10011271311
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Central bank independence: monetary policies in selected jurisdictions (II)
Ayadi, Felix; Ojo, Marianne - Volkswirtschaftliche Fakultät, … - 2013
Through an investigation of selected jurisdictions, this paper aims to contribute to the extant literature in investigating the relationship between central bank independence and price stability, as well as how such a relationship varies between different jurisdictions – even though it is...
Persistent link: https://www.econbiz.de/10011259909
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Why should central banks be independent?
Harashima, Taiji - Volkswirtschaftliche Fakultät, … - 2007
Most explanations for the necessity of an independent central bank rely on the time-inconsistency model and therefore assume that governments are weak, foolish, or untruthful and tend to cheat people. The model in this paper indicates, however, that an independent central bank is not necessary...
Persistent link: https://www.econbiz.de/10005790152
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The effects of a greater central bank credibility on interest rates level and volatility response to news in the U.K.
Tuysuz, Sukriye - Volkswirtschaftliche Fakultät, … - 2007
operational independence in May 1997. It also checks if this credibility measure has increased the predictability of BoE decisions … influence more English interest rate volatility after May 1997. This results suggests that the credibility and/or transparency … by the BoE and the evolution of the transparency and credibility index suggest that the BoE transparency and credibility …
Persistent link: https://www.econbiz.de/10005837520
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Exchange rate stabilization under imperfect credibility
Calvo, Guillermo; Vegh, Carlos - Volkswirtschaftliche Fakultät, … - 1991
-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the …
Persistent link: https://www.econbiz.de/10008596363
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Development of an explicit rule of monetary policy for the economy of Ukraine
Kozmenko, Serhiy; Savchenko, Taras - Volkswirtschaftliche Fakultät, … - 2013
The paper explains the expediency of developing an explicit rule of monetary policy for the economy of Ukraine. It studies the stages of its development, proving the expediency of formation of monetary rules for money aggregates, evaluates equilibrium values of the rule’s parameters based on...
Persistent link: https://www.econbiz.de/10011258292
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Decizii strategice ale politicii monetare
Dumitriu, Ramona; Stefanescu, Răzvan - Volkswirtschaftliche Fakultät, … - 2013
The conduct of the monetary policy could be view as a series of decisions in which the objectives and tools are chosen. This paper explores some aspects of the strategic decisions of the monetary policy such as the roles played by central banks and other public authorities, the main constraints...
Persistent link: https://www.econbiz.de/10011259520
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The Nigerian economy and monetary policy: Some simple empirics
Omotor, Douglason G. - Volkswirtschaftliche Fakultät, … - 2009
The paper sets out to determine the impact of monetary policy on the Nigerian economy during the post-reform period using annual series data (1986 – 2006). Trend discussion of some basic macroeconomic indicators on the Nigerian economy among others reveal that (a) the Central Bank of Nigeria...
Persistent link: https://www.econbiz.de/10009132736
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Overview of the Evolution of China's Central Bank and Monetary Policy: Correlation to the European Union
Skold, Alida S. - Volkswirtschaftliche Fakultät, … - 2011
As an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was held responsible for devastating inflation and was abandoned during the Ming Dynasty. Going forward in time, uprisings and discontent have emphasized the importance of...
Persistent link: https://www.econbiz.de/10009323474
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Interest rate rule for the conduct of monetary policy: analysis for Egypt (1997:2007)
Rageh, Rania - Volkswirtschaftliche Fakultät, … - 2010
The main objective of the paper in hand is to examine the validity of using Taylor rule as a robust rule for conducting monetary policy in case of Egypt. In this context, the paper works through two main pillars. First: parts two and three; critically analyze the theoretical grounds for using an...
Persistent link: https://www.econbiz.de/10008694037