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The paper investigates whether institutional independence contributes positively to central bank responses to economic emergencies. The paper examines evidence of central bank responses to the economic effects of the COVID-19 pandemic of 2020 to investigate correlation between independence and...
Persistent link: https://www.econbiz.de/10013240887
The issue of central bank independence (CBI) and its relation to growth and inflation has been a subject of lively debate over the past two decades. Prior empirical work has suggested a relationship between CBI and inflation, with only a tenuous link to growth. In the wake of the global...
Persistent link: https://www.econbiz.de/10013089674
The paper examines the exercise, the efficiency, and the legitimacy of the monetary policy-making process. The goal of central bank autonomy in recent times is the outcome of a demand for price stability. The realisation of autonomy is also a consequence of the fragmentation of national decision...
Persistent link: https://www.econbiz.de/10013094092
A major factor behind this crisis is financialization of the system, with a growing disconnect between the monetary and the real sector. Some proponents of the Islamic finance claim such financial crisis would have been avoided, if asset-backed Islamic finance were adopted. However, while...
Persistent link: https://www.econbiz.de/10014200507
The Author investigates the problem of mutual influence and dependence'sbetween estimates of quality of “economic” institutions, indicators of monetary stability, and growth rates in representative group of different economies - developed, developing and transitional (Selected Economies) at...
Persistent link: https://www.econbiz.de/10012893190
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. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of …
Persistent link: https://www.econbiz.de/10010337620