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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/10012103732
between increased central bank independence and inflation during 1999–2001 in 14 Latin American countries. Dissagregating the … between legal central bank independence and inflation …
Persistent link: https://www.econbiz.de/10014401149
countries of the former Soviet Union appears to be positively correlated with lower average inflation. There also seems to be …
Persistent link: https://www.econbiz.de/10014403427
panel regressions, we find a negative relationship between legal central bank independence (CBI) and inflation. This result … holds for three alternative measures of CBI and after controlling for international inflation, banking crises, and exchange … fails, however, to find a causal relationship running from CBI to inflation …
Persistent link: https://www.econbiz.de/10014400080
This paper explores the relationship between the constitutional entrenchment of central bank independence and inflation … by the ""de jure"" independence established in the central bank law, and inflation. We argue that the constitution is … constitution have a better inflation performance …
Persistent link: https://www.econbiz.de/10014403862
Central bank financial strength is positively associated with good policy performance. Financially weak central banks generate losses which undermine macroeconomic stability and call into question the credibility of their policies. In assessing central bank financial strength a careful...
Persistent link: https://www.econbiz.de/10014402002
available to the authorities and the nature of the policy game play a key role in determining the inflation rate and output in … the economy. Furthermore, the model can be solved for the optimal degree of inflation aversion of the central bank. , a …
Persistent link: https://www.econbiz.de/10014398760
We provide a multidimensional characterization of monetary policy frameworks across three pillars: Independence and Accountability, Policy and Operational Strategy, and Communications (IAPOC). We construct the IAPOC index by analyzing central banks' laws and websites for 50 advanced economies,...
Persistent link: https://www.econbiz.de/10013170321
Chile offers an example of a country that has overcome the fear of floating by reducing balance sheet mismatches, enhancing financial market development, as well as improving monetary, fiscal, and political institutions, and strengthening policy credibility. Under the floating regime, Chile's...
Persistent link: https://www.econbiz.de/10012252010
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/10009615326