Many central banks implement monetary policy in a way that maintains a tight link between the stock of money and the … tensions. The authors explain how this approach, in which the central bank pays interest on reserves at the target interest …

discussion highlights a number of potential benefits and costs of central banking secrecy, and identifies some conditions under …

Conventional economic policy models focus only on selected elements of the central bank balance sheet, in particular … monetary liabilities and sometimes foreign reserves. The canonical model of an "independent" central bank assumes that it … paper considers the relatively novel idea that an independent central bank could be constrained in achieving its policy …