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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of … central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo s World Economic … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …
Persistent link: https://www.econbiz.de/10011399168
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An empirical investigation into exchange rate regime choice and exchange rate volatility
Berger, Helge; Sturm, Jan-Egbert; Haan, Jakob de - 2000
We test a simple model of exchange rate regime choice with data for 65 non-OECD countries covering the period 1980-94.We find that the variance of output at home and in potential target c ountries as well as the correlation between home and foreign real activity are powerful and robust...
Persistent link: https://www.econbiz.de/10009781534
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Central banking and financial stability in the long run
Cao, Jin; Chollete, Lorán - 2013
Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality central banks play complex, long horizon games and face more than one tradeoff. We account for these issues in a simple infinite horizon game with a novel tradeoff: higher rates deter...
Persistent link: https://www.econbiz.de/10009753000
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The role of political institutions for the effectiveness of central bank independence
Hielscher, Kai; Markwardt, Gunther - 2011
This paper empirically studies the impact of the quality of political institutions on the link between central bank independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible nonlinearities, we employ interaction models to...
Persistent link: https://www.econbiz.de/10009012047
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Does conservatism matter? : a time series approach to central banking
Berger, Helge; Woitek, Ulrich - 1999
The empirical literature on central banking has found measures of central bank independence/conservatism to be negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised for its focus on policy outcomes instead of policies,...
Persistent link: https://www.econbiz.de/10009781685
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Optimal conservatism and collective monetary policymaking under uncertainty
Hefeker, Carsten; Zimmer, Blandine - 2014
We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...
Persistent link: https://www.econbiz.de/10010391838
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Political pressures and monetary mystique
Geraats, Petra M. (contributor) - 2007
Persistent link: https://www.econbiz.de/10003497780
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Monetary policy committees : individual and collective reputations
Sibert, Anne C. - 1999
This paper looks at how the reputation of a monetary policy making committee is jointly determined with the reputations of its individual members. I ask whether individuals ha ve more or less incentive to gain a reputation for being tough on inflation when they are part of a group. I examine the...
Persistent link: https://www.econbiz.de/10009781721
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Connected lending of last resort
Mitchener, Kris; Monnet, Eric - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10013494187
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Does high inflation cause central bankers to lose their job? : evidence based on a new data set
Dreher, Axel (contributor); Sturm, Jan-Egbert (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003499549