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The case for central bank independence : a review of key issues in the international debate
Dall’Orto Mas, Rodolfo; Vonessen, Benjamin; Fehlker, … - 2020
and de facto independence of selected central banks around the world in the past few years. It finds that although the … central banks of some of the largest economies in the world may have weakened. The paper presents counterarguments to the key …
Persistent link: https://www.econbiz.de/10012298570
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Independent within — not of — Government : The Emergence of the Federal Reserve as a Modern Central Bank
Humpage, Owen - 2014
debt-management operations during the Second World War and through the controversies that led to the Treasury …
Persistent link: https://www.econbiz.de/10013056737
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The European Public Debt Refinancing Program - Why the ECB Quantitative Easing Should Envisage Euro-Zone Government Bonds
Minenna, Marcello - 2014
of mutualising on the Eurosystem the credit risk arising from the new world-wide vendor financing scheme. The QE would …
Persistent link: https://www.econbiz.de/10013047170
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Central Bank Responsibility, Seigniorage, and Welfare
Bhattacharya, Joydeep; Haslag, Joseph - 2015
The money stock, in almost every country in the world, does not contract. This paper attempts a welfare … stationary monetary competitive equilibria which are also welfare maxima, in a world where the money stock cannot contract …
Persistent link: https://www.econbiz.de/10014173607
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The role of central banks in promoting financial stability : an international perspective
Cunningham, Rose M.; Friedrich, Christian - 2016
The 2007-09 global financial crisis has led policy-makers around the world, including central banks, to refocus their …
Persistent link: https://www.econbiz.de/10011515917
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Global financial system outcomes after 2008 : a longitudinal comparison
Ter-Mkrtchyan, Ani; Franklin, Aimee L. - In: Economies : open access journal 8 (2020) 1/24, pp. 1-14
This paper examines how the governance context and financial institutions may relate to different aspects of a country’s financial system before and after a crisis. Using a fixed-effects regression model for panel data and a comparative perspective, we assess longitudinal trends in the...
Persistent link: https://www.econbiz.de/10012237499
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Central Bank Response to the 2007-08 Financial Market Turbulence : Experiences and Lessons Drawn
Gray, Simon - 2009
The paper reviews the policy response of major central banks during the 2007-08 financial market turbulence and suggests that there is scope for convergence among central bank operational frameworks through the adoption of those elements that proved most instrumental in calming markets. These...
Persistent link: https://www.econbiz.de/10012766236
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The international experience with negative policy rates
Jackson, Harriet - 2015
A key issue in the renewal of the inflation-control agreement is the question of the appropriate level of the inflation target. Many observers have raised concerns that with the reduction in the neutral rate, and the experience of the recent financial crisis, the effective lower bound (ELB) is...
Persistent link: https://www.econbiz.de/10011384127
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Settlement balances deconstructed
Chu, Parnell; Johnson, Grahame; Kinnear, Scott; … - 2022
to the economic shock caused by the COVID-19 pandemic, the Bank of Canada undertook a range of extraordinary policy …
Persistent link: https://www.econbiz.de/10013256950