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This paper explores the level of independence of the National Bank of the Republic of Macedonia by primarily focusing on the legal provisions that pertain to the key aspects for achieving and maintaining price stability. It provides a historical perspective of the evolution of the independence...
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Die Kernaufgabe der Europäischen Zentralbank ist es, die Preisstabilität zu gewährleisten. Die Finanz- und … Unabhängigkeit wird zunehmend dadurch gefährdet, dass es in diesem Prozess zu einer Verquickung von Fiskal- und Geldpolitik kommt …
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/Europäische Zentralbank statt. Dabei ging es im Kern um die Frage, ob das Outright-Monetary-Transactions-Programm der EZB mandatswidrig ist …
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This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX intervention is considered as a balance sheet...
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