nonlinearity and seemingly innocuous identification assumptions. ; Earlier title: Identifying the effects of central bank …

financial instability. In contrast, giving, inter alia, monetary factors a role in central banks' policy decisions, as is done … financial stability. Finally, this paper makes a case against increasing the central banks' inflation target. …

In 1913, Congress purposefully created the Federal Reserve as an independent central bank, which created a fundamental … of the Federal Reserve System. A central bank’s independence, however, is the key tool to ensure a government will not …

target inflation would undermine the rationale for central bank independence and constitute an additional movement away from …

headline inflation rate. ; Because central bank anti-inflation measures sometimes take a long time to affect prices … adjusted). In fact, the mandate of many inflation-targeting central banks is to aim to keep headline inflation at a certain …-targeting central bank doesn’t aim to contain short-run headline inflation fluctuations. …

While the goals that guide monetary policy in different countries are very similar, central banks diverge in their … methods of implementing policy. This study of the policy frameworks of four central banks—the Federal Reserve, the European … Central Bank, the Bank of England, and the Swiss National Bank—focuses on two notable areas of difference. The first is the …