Henry Thornton’s Paper Credit of Great Britain (1802) established once and for all the notion that central banks have … underlying it reappeared in the famous Bullion Report (1810). There he and his coauthors contended that the central bank …

Monetary Union. It concludes that a decentralized arrangement of national central banks may undermine the EMU’s durability. …

In recent years several countries have granted greater independence to their central banks; others have made price … central bank credibility called the time inconsistency of monetary policy. The theory and some empirical aspects of time … central bank cannot credibly commit to honor commitments to keep inflation low than if it can. To ameliorate this "inflation …

policy, this article contrasts the forecasting processes at three central banks-the Reserve Bank of New Zealand, the Bank of … therefore come much closer to representing the central view of the policymakers. A similar, but less formal, interaction takes … models used by staff at these institutions. The analysis suggests that there is considerable similarity across central banks …

In the last two decades, central banks have taken a variety of steps to increase the transparency of monetary policy … central bankers use to adjust the stance of monetary policy. While central banks typically announce changes in the policy rate … when they occur, very few central banks provide an explicit description of where the policy rate is likely to be set in the …