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The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …
Persistent link: https://www.econbiz.de/10003301388
The empirical literature on central banking has found measures of central bank independence/conservatism to be …. We find that an increase in central bank conservatism leads to higher short-term interest rates and a more activist … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …
Persistent link: https://www.econbiz.de/10009781685