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Does low inflation pose a risk to economic growth and central banks reputation?
Dąbrowski, Marek - 2020
Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …
Persistent link: https://www.econbiz.de/10012230450
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Monetary-Labor Interactions, International Monetary Regimes, and Central Bank Conservatism
Cuciniello, Vincenzo - 2011
A two-country general equilibrium model with large wage setters and conservative monetary authorities is employed to investigate the welfare implications of three international monetary regimes: i) non-cooperative, ii) cooperative, and iii) monetary union. The analysis shows that the unions'...
Persistent link: https://www.econbiz.de/10013134305
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Does central bank transparency and communication affect financial and macroeconomic forecasts?
Lustenberger, Thomas; Rossi, Enzo - 2018
In a large sample of countries across different geographic regions and over a long period of time, we find limited country- and variable-specific effects of central bank transparency on forecast accuracy and their dispersion among a large set of professional forecasts of financial and...
Persistent link: https://www.econbiz.de/10011790688
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Inflation: thruway of ECB's monetary policy
Seidl, Christian - 2023
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …
Persistent link: https://www.econbiz.de/10013553631
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Central Bank Digital Currency, Tax Evasion, Inflation Tax, and Central Bank Independence
Kwon, Ohik; Lee, Seungduck; Park, Jaevin - 2021
inflation tax. However, if imposing a positive sales tax is inevitable for central bank independence, there arises an …
Persistent link: https://www.econbiz.de/10013312670
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Understanding Central Bank Loss Functions : Implied and Delegated Targets
Yuan, Huiping - 2009
, the correct delegated targets eliminate the constant average and state-contingent inflation biases, and a weight …
Persistent link: https://www.econbiz.de/10013154576
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Central Bank Financial Independence
Martinez Resano, Jose Ramon - 2021
Central bank independence is a multifaceted institutional design. The financial component has been seldom analysed. This paper intends to set a comprehensive conceptual background for central bank financial independence. Quite often central banks are modelled as robot-like maximizers of some...
Persistent link: https://www.econbiz.de/10013314169
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Central bank independence : a rigged debate based on false politics and economics
Palley, Thomas I. - 2019
inflation prone government. Step two argues independence is the solution to that problem. This paper challenges that case and …
Persistent link: https://www.econbiz.de/10012104487
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The Politicization of Monetary Policy – Revisiting Central Bank Independence in the Light of the Current Political Climate
Küpfer, Mathias - 2020
a significant impact on inflation, inflation volatility and to a lesser extent on GDP per capita …
Persistent link: https://www.econbiz.de/10014090553
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Independence, conservatism and beyond : Central Bank design and central banker preferences in monetary policy economics (1981-2019)
Masciandaro, Donato - 2020
Using a political economy approach, this paper sheds light on how two factors – central bankers' preferences and the central bank's design – progressively assumed a crucial role in the evolution of monetary policy economics in the last four decades. The two factors jointly identify the...
Persistent link: https://www.econbiz.de/10012210741