Zimbabwe's failure to address continuing central bank quasi-fiscal losses has interfered with both monetary management …

This paper addresses the question of why inflation has not yet converged to price stability in Central America and the … strengthening of monetary policy, important flaws remain in most central banks, in particular a lack of a clear policy mandate and … that all central banks raise interest rates to curtail inflation but only some of them increase it sufficiently to …

for a single credible nominal anchor. The important policy challenges for an ITL central bank include whether or not to …

development could affect monetary policy effectiveness. If an increased use of e-money substantially limits the demand for central … bank reserves, this limitation would require changes in the central bank operational target and a closer coordination of …-money use does not seem to pose a threat to the stability of the financial system. Thus, central banks can successfully …

This paper reviews central bank legislation in 24 countries in Latin America and the Caribbean during the 1990s. Using … panel regressions, we find a negative relationship between legal central bank independence (CBI) and inflation. This result … changes in central bank legislation, illustrating the complementary nature of various aspects of economic reform. The paper …

This paper discusses how the choice of central banks' operating targets influences the use of their monetary policy … instruments and how the latter affect the central bank's balance sheet. This is of particular interest, since the monetary … conditionality in IMF-supported programs has traditionally been linked to central bank balance sheet items. Quantity targeting tends …