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Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis

Khan, Ashraf - 2017

Drawing on the 2016 update of the IMF's Central Bank Legislation Database, this paper examines differences in central bank legal frameworks before and after the Global Financial Crisis. Examples from select countries show that many central bank laws have undergone changes in objectives,...

Persistent link: https://www.econbiz.de/10012956503

Central Bank Governance and the Role of Nonfinancial Risk Management

Khan, Ashraf - 2016

This paper argues that nonfinancial risk management is an essential element of good governance of central banks. It provides a funnelled analysis, on the basis of selected literature, by (i) presenting an outline of central bank governance in general; (ii) zooming in on internal governance and...

Persistent link: https://www.econbiz.de/10012996067

The Role of Board Oversight in Central Bank Governance : Key Legal Design Issues

Bossu, Wouter - 2020

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper...

Persistent link: https://www.econbiz.de/10012843302

Sovereign Debt Sustainability and Central Bank Credibility

Willems, Tim; Zettelmeyer, Jeromin - 2022

This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present, focusing on four debates. First, the shift from an “accounting based” view of debt sustainability, evaluated using government borrowing rates, to a “model based” view...

Persistent link: https://www.econbiz.de/10013295141

Trinity Strikes Back : Monetary Independence and Inflation in the Caribbean

Cevik, Serhan - 2019

between monetary autonomy and inflation dynamics in a panel of Caribbean countries over the period 1980-2017. The empirical … results show that monetary independence is a significant factor in determining inflation, even after controlling for … monetary policy for domestic purposes independent of external monetary influences, leads to lower consumer price inflation …

Persistent link: https://www.econbiz.de/10012859872

The Dog that Didn't Bark : The Strange Case of Domestic Policy Cooperation in the 'New Normal'

Bayoumi, Tamim A. - 2015

of: macroeconomic policy cooperation in a world of more fiscal activism; coordination across financial agencies and with …

Persistent link: https://www.econbiz.de/10013016598

Global Financial Conditions and Monetary Policy Autonomy

Caceres, Carlos - 2016

outlook for domestic inflation and output. We show that common approaches used to estimate interest rate spillovers tend to …

Persistent link: https://www.econbiz.de/10012977862

Central Bank Independence and Macro-Prudential Regulation

Ueda, Kenichi - 2012

may arise. Ex-ante, the central bank chooses the socially optimal level of inflation. Ex-post, however, the central bank … chooses inflation above the social optimum to reduce the real value of private debt. This inefficient outcome arises when …

Persistent link: https://www.econbiz.de/10013107404

Quasi-Fiscal Implications of Central Bank Crisis Interventions

Hooley, John; Khan, Ashraf; Lattie, Claney; Mak, Istvan; … - 2023

We develop a stylized balance sheet framework to help identify ‘quasi-fiscal’ components of central bank crisis interventions and show how sources of fiscal risk are created from both the new claims and how they are funded. Combining central bank balance sheet data with survey evidence from...

Persistent link: https://www.econbiz.de/10014354111

Central Bank Reserve Management and International Financial Stability-Some Post-Crisis Reflections

Jones, Bradley - 2018

Motivated by the tension first revealed during the global financial crisis between thedomestic and international financial stability obligations of central bank reserve managers,this paper offers some reflections along four main lines. First, the paper highlights howofficial reserve management...

Persistent link: https://www.econbiz.de/10012924272