Through an investigation of selected jurisdictions, this paper aims to contribute to the extant literature in investigating the relationship between central bank independence and price stability, as well as how such a relationship varies between different jurisdictions – even though it is...

Most explanations for the necessity of an independent central bank rely on the time-inconsistency model and therefore assume that governments are weak, foolish, or untruthful and tend to cheat people. The model in this paper indicates, however, that an independent central bank is not necessary...

Usually, current Financial Crisis of 2008 is compared to the Great Depression of 1929. But there are some evidences that our current financial crisis has much more similarities and analogies to the crisis initiated by the panic in 1907. A brief analysis of both crises is presented. This analysis...

The decades preceding the Great Depression and the U.S. subprime mortgage crisis have close similarities. Both decades were characterized by rapid growth without major contractions, by an increase in liquidity, a lack of inflation, and a generalized decrease in risk premiums. Additional...

The first stage of the plan for rescuing French banks in October 2008 rules that a special company owned by the State and the banks will borrow on the “markets” with the State warranty. The money collected will be lent to the banks so that they can finance economy. This is curious because...

The paper explains the expediency of developing an explicit rule of monetary policy for the economy of Ukraine. It studies the stages of its development, proving the expediency of formation of monetary rules for money aggregates, evaluates equilibrium values of the rule’s parameters based on...

The conduct of the monetary policy could be view as a series of decisions in which the objectives and tools are chosen. This paper explores some aspects of the strategic decisions of the monetary policy such as the roles played by central banks and other public authorities, the main constraints...

The paper sets out to determine the impact of monetary policy on the Nigerian economy during the post-reform period using annual series data (1986 – 2006). Trend discussion of some basic macroeconomic indicators on the Nigerian economy among others reveal that (a) the Central Bank of Nigeria...

As an innovator in the financial system, China was the first to use paper currency. Eventually the form of currency was held responsible for devastating inflation and was abandoned during the Ming Dynasty. Going forward in time, uprisings and discontent have emphasized the importance of...

The main objective of the paper in hand is to examine the validity of using Taylor rule as a robust rule for conducting monetary policy in case of Egypt. In this context, the paper works through two main pillars. First: parts two and three; critically analyze the theoretical grounds for using an...