Narrow search
Showing 1 - 10 of 2,159
Cover Image
Central Bank transparency and financial stability : measurement, determinants and effects
Horváth, Roman; Vasko, Dan - 2013
We develop a comprehensive index of the transparency of central banks regarding their policy framework to promote … financial stability for 110 countries from 2000 to 2011 and examine the determinants and effects of this transparency. We find … that the degree of transparency increased in the 2000s, though it still varied greatly across the countries in our study …
Persistent link: https://www.econbiz.de/10011374311
Cover Image
Monetary policy committee transparency: Measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011
This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers … variables and institutional transparency, as well as instrumenting MPCT in various ways. …
Persistent link: https://www.econbiz.de/10010286350
Cover Image
The quest for global monetary policy coordination
Bruni, Franco; Siaba Serrate, José; Villafranca, Antonio - 2018
This paper puts forward a proposal to help monetary policies confront the challenge of the "normalisation" of money creation and interest rates. The difficult unwinding of years of unorthodox policies put financial stability at risk in major monetary centres and in EMEs. The authors argue that...
Persistent link: https://www.econbiz.de/10011885373
Cover Image
Climate change as a systemic risk : are macroprudential authorities up to the task?
Grünewald, Seraina Neva - 2020
There is growing acknowledgement among policymakers that climate change may give rise to potentially catastrophic financial risk and impact financial stability. This paper explores the specific features of climate-related financial risks (CRFR), drawing on a growing body of macrofinancial...
Persistent link: https://www.econbiz.de/10012427917
Cover Image
The quest for global monetary policy coordination
Bruni, Franco; Siaba Serrate, José; Villafranca, Antonio - 2019
This paper puts forward a proposal to help monetary policies confront the challenge of the “normalisation” of money creation and interest rates. The difficult unwinding of years of unorthodox policies put financial stability at risk in major monetary centres and in EMEs. The authors argue...
Persistent link: https://www.econbiz.de/10011955414
Cover Image
Adaptive early warning systems : an axiomatic approach
Bhimjee, Diptes C. P. - In: Journal of central banking theory and practice 11 (2022) 2, pp. 145-164
The U.S. Subprime Crisis and the subsequent Great Recession have highlighted a renewed interest in the proper design and implementation of Early Warning Systems (E.W.S.), in order to help deter the onset of subsequent extreme financial events, through the implementation of adequate crisis...
Persistent link: https://www.econbiz.de/10013347094
Cover Image
Central banking for financial stability in Asia
Kawai, Masahiro; Morgan, Peter J. - 2012
A key lesson of the 2007 - 2009 global financial crisis (GFC) was the importance of containing systemic financial risk and the need for a "macroprudential" approach to surveillance and regulation that can identify system-wide risks and take appropriate actions to maintain financial stability. By...
Persistent link: https://www.econbiz.de/10010397221
Cover Image
Does social trust speed up reforms? : the case of central-bank independence
Berggren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - 2015
Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...
Persistent link: https://www.econbiz.de/10010459611
Cover Image
Great power, great responsibility : addressing the underestimated issue of central bank's social responsibility
Vallet, Guillaume - In: Journal of central banking theory and practice 10 (2021) 3, pp. 23-39
This paper deals with the neglected issue of central banks' social responsibility. Since central banks exert the "structural power" on economies as well as on societies, their power should be regulated and controlled by society through a reliable framework of social responsibility. To that aim,...
Persistent link: https://www.econbiz.de/10012650849
Cover Image
Central banks and inflation : where do we stand and how did we get here?
Whelan, Karl - 2021
The inability of central banks to attain their target inflation rates in recent years has raised questions about the extent to which central banks can control the inflation process. This paper discusses the evolution of thought and evidence since the 1960s on the determinants of inflation and...
Persistent link: https://www.econbiz.de/10012615951