Narrow search
Showing 1 - 10 of 68,338
Cover Image
Political Pressure on Central Banks
Binder, Carola - 2018
I construct a quarterly dataset on political pressure faced by 118 central banks from 2010 to 2018 using country-level reports. I code whether each central bank is reportedly succumbing to pressure, resisting pressure, or not facing pressure. About 10% of central banks reportedly face political...
Persistent link: https://www.econbiz.de/10012911739
Cover Image
An Interest-Group Theory of Central Bank Independence
Miller, Geoffrey P. - 2008
This paper presents an interest group theory of central bank independence. The theory is grounded in the concept of rent extraction. In the absence of an independent central bank, politicians can benefit in the short run by creating an unanticipated burst of inflation that unravels many interest...
Persistent link: https://www.econbiz.de/10014215640
Cover Image
An Interest-Group Theory of Central Bank Independence
Miller, Geoffrey P. - 2008
This paper considers a central puzzle of central bank independence: why politicians would agree to establish such a bank, when the consequence is giving up a substantial degree of control over the money supply and price levels. I suggest that politicians agree to establish independent central...
Persistent link: https://www.econbiz.de/10014215641
Cover Image
Congress, the president, and the Federal Reserve : the politics of American monetary policy-making
Morris, Irwin L. - 2000
Persistent link: https://www.econbiz.de/10013491245
Cover Image
Defusing democracy : central bank autonomy and the transition from authoritarian rule
Boylan, Delia M. - 2001
Persistent link: https://www.econbiz.de/10013491269
Cover Image
Indexation, inflation and central bank independence
Pecchi, Lorenzo; Piga, Gustavo - 1997
Persistent link: https://www.econbiz.de/10000973650
Cover Image
Central bank credit allocation : an interest group model of central bank independence
Arteta Villavicencio, Gustavo - 1996
Persistent link: https://www.econbiz.de/10000986783
Cover Image
On the sources of the inflationary bias
Piga, Gustavo - 1998
Persistent link: https://www.econbiz.de/10000988583
Cover Image
Political Compromise and Bureaucratic Structure : The Political Origins of the Federal Reserve System
Jeong, Gyung-Ho - 2010
What is the origin of the structural independence of the Federal Reserve System? Unlike existing explanations on central bank independence, we show that the structural independence of the Fed is not the result of intentional design but a product of compromise among disparate groups. Using...
Persistent link: https://www.econbiz.de/10013150892
Cover Image
On the Sources of the Inflationary Bias
Piga, Gustavo - 2000
-bias arises due to the lobbying pressures of outsiders. Furthermore, we show that if lobbying pressures are high enough, an … feature of lobbying pressures has an impact on the stabilization properties of monetary policy. When a supply shock occurs …, the shock is totally absorbed by a forward-looking trade-union which has no costs of lobbying, independently of any finite …
Persistent link: https://www.econbiz.de/10014208793