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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

Central Bank Financial Strength, Policy Constraints and Inflation

Stella, Peter - 2008

Central bank financial strength is positively associated with good policy performance. Financially weak central banks generate losses which undermine macroeconomic stability and call into question the credibility of their policies. In assessing central bank financial strength a careful...

Persistent link: https://www.econbiz.de/10014402002

Modern Approaches to Central Banking

Fischer, Stanley - 2021

Modern theory has delivered both the conservative central banker and the principal-agent approaches as rationales for … shows not only that greater independence is associated with lower inflation, but also that the central bank's rights not to … finance the government and to set interest rates independently increase its effectiveness. The role of inflation targeting and …

Persistent link: https://www.econbiz.de/10013229829

Establishing a hawkish reputation : interest rate setting by newly appointed central bank governors

Neuenkirch, Matthias - In: Applied economics letters 22 (2015) 4/6, pp. 391-396

Persistent link: https://www.econbiz.de/10010506721

Central bank independence and low inflation : who leads the dance?

Agur, Itai - In: Applied economics letters 28 (2021) 6, pp. 477-481

Persistent link: https://www.econbiz.de/10012485053

Federal Reserve independence : the Fed Funds Rate under different regimes

Jones, Adam T.; Snyder, Mathew W. - In: Applied economics letters 21 (2014) 16/18, pp. 1262-1265

Persistent link: https://www.econbiz.de/10010467542

The role of board oversight in central bank governance : key legal design issues

Bossu, Wouter; Rossi, Arthur - 2019

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper...

Persistent link: https://www.econbiz.de/10012155156

Issues in Central Bank Finance and Independence

Lönnberg, Åke - 2008

Conventional economic policy models focus only on selected elements of the central bank balance sheet, in particular monetary liabilities and sometimes foreign reserves. The canonical model of an ""independent"" central bank assumes that it chooses money (or an interest rate), unconstrained by a...

Persistent link: https://www.econbiz.de/10014401527

Central Bank Independence and Macro-Prudential Regulation

Valencia, Fabian - 2012

may arise. Ex-ante, the central bank chooses the socially optimal level of inflation. Ex-post, however, the central bank … chooses inflation above the social optimum to reduce the real value of private debt. This inefficient outcome arises when …

Persistent link: https://www.econbiz.de/10014396622

The varying interest elasticity and the cost of inflation in India

Kumar, Sudhanshu - In: Applied economics letters 21 (2014) 7/9, pp. 497-500

Persistent link: https://www.econbiz.de/10010414262