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Gersbach, Hans; Hahn, Volker - In: Journal of Economic Dynamics and Control 48 (2014) C, pp. 26-40

We introduce a new type of incentive contract for central bankers: inflation forecast contracts, which make central bankers׳ remunerations contingent on the precision of their inflation forecasts. We show that such contracts enable central bankers to influence inflation expectations more...

Persistent link: https://www.econbiz.de/10011077523

Inflation Targeting – Between Theory And Reality

Vasilescu, Maria; Mungiu-Pupăzan, Mariana Claudia - In: Annals of the University of Petrosani, Economics 10 (2010) 3, pp. 357-364

stability, bank independence, transparency or credibility may differ from country to country, despite their level of development …

Persistent link: https://www.econbiz.de/10008853240

Monetary Policy Committee Transparency: Measurement, Determinants, and Economic Effects

Hayo, Bernd; Mazhar, Ummad - In: Open Economies Review 25 (2014) 4, pp. 739-770

This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers … macroeconomic variables and institutional transparency, as well as instrumenting MPCT in various ways. MPCT can be both a complement … to and a substitute for institutional transparency. Copyright Springer Science+Business Media New York 2014 …

Persistent link: https://www.econbiz.de/10010959219

Monetary Policy Transparency in the UK: The Impact of Independence and Inflation Targeting

Mariscal, Iris Biefang-Frisancho; Howells, Peter - In: International Review of Applied Economics 21 (2007) 5, pp. 603-617

There is a widespread belief that the transparency of UK monetary policy has increased substantially as a result of the …' anticipation. If the benefit of transparency is the elimination of policy surprise, there is little benefit if the averagely …

Persistent link: https://www.econbiz.de/10005445818