The Central Bank of Chile (CBC) has implemented broadly advanced transparency practices. This reflects the CBC's strong public commitment to transparency, which is anchored in the law and has been designated by the CBC as a strategic objective to fulfill its mandate. This policy has earned the...

Given the current financial crisis, renewed interest in monetary policy and central bank independence seems highly appropriate. This paper proposes an evaluation of International Monetary Fund (IMF) policy. Beginning in the mid-to-late 1990s, the IMF increased the frequency with which it...

This paper studies the role of the International Monetary Fund (IMF) in promoting central bank independence (CBI). While anecdotal evidence suggests that the IMF has been playing a vital role for CBI, the underlying mechanisms of this influence are not well understood. We argue that the IMF has...