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The role of political institutions for the effectiveness of central bank independence
Hielscher, Kai; Markwardt, Gunther - 2011
independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country's inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …
Persistent link: https://www.econbiz.de/10009012047
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Central banking and financial stability in the long run
Cao, Jin; Chollete, Lorán - 2013
central banks cannot attain both low inflation and financial stability. …
Persistent link: https://www.econbiz.de/10009753000
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Monetary policy in Turkey after Central Bank independence
Gürkaynak, Refet S.; Kantur, Zeynep; Taş, M. Anil; … - 2015
inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …
Persistent link: https://www.econbiz.de/10011375680
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Does conservatism matter? : a time series approach to central banking
Berger, Helge; Woitek, Ulrich - 1999
negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … 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
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Stable money and central bank independence : implementing monetary institutions in postwar Germany
Hefeker, Carsten - 2019
Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This is a...
Persistent link: https://www.econbiz.de/10012119851
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Monetary commitment, institutional constraints and inflation : empirical evidence for OECD countries since the 1970s
Freytag, Andreas (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003497804
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Fiscal aspects of central bank independence
Sims, Christopher A. - 2001
Most macroeconomic models treat the central bank and the trea-sury as a unified entity. The balance sheet of the central bank is therefore implicitly treated as an accounting fiction. While this is often realistic, the central bank balance sheet has implications for central bank independence....
Persistent link: https://www.econbiz.de/10011399700
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Post-Thatcher fiscal strategies in the UK : an interpretation
Hughes Hallett, Andrew (contributor) - 2004
Fiscal policy in Britain has changed radically since the Keynesianism of the 1960s and 1970s. After a passive period under monetarism of the 1980s, fiscal policy is said to have adopted a leadership role with long term objectives (low debt, the provision of public services/ investment, and...
Persistent link: https://www.econbiz.de/10002524201
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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
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Does monetary policy influence Euro area fiscal sustainability?
Afonso, António; Pereira, Francisco Gomes - 2024
This paper studies the impact of monetary policy on fiscal sustainability in the euro area. Our sample includes 12 euro area countries and covers the period from 2003:Q1 to 2022:Q4. We extend a fiscal reaction function (Bohn’s rule) by including the monetary policy stance as an interaction...
Persistent link: https://www.econbiz.de/10015046233