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La independencia de los bancos centrales y la inflación: Un análisis empírico

Chiquiar, Daniel; Ibarra-Ramírez, Raúl - 2019

This paper analyzes the relationship between central bank independence and inflation in a panel of 182 countries for the period from 1970 to 2018. To measure the degree of independence, two measures are used, the Garriga (2016) index, constructed from the laws and internal regulations of central...

Persistent link: https://www.econbiz.de/10012616390

Central Banks in European Emerging Market Economies in the 1990s

Hochreiter, Eduard; Kowalski, Tadeusz - 2000

This paper analyzes the institutional framework of central banks in ten Central and East European countries using the ECB as benchmark. It looks at the legislated objectives of these central banks, assesses the degree of political and functional independence and the status of their democratic...

Persistent link: https://www.econbiz.de/10013369957

Understanding and Predicting Monetary Policy Framework Choice

Sullivan, Megan - 2024

This paper investigates the determinants of countries' choice of monetary policy frameworks (MPF) for emerging and developing countries. Countries make different MPF choices and we think it is because they have different country-level characteristics (e.g. democratic strength and trade...

Persistent link: https://www.econbiz.de/10014446693

The Independence of the European Central Bank

Neyer, Ulrike - In: Credit and Capital Markets – Kredit und Kapital 52 (2019) 1, pp. 35-68

The ECB is formally independent of instructions from any government. During and after the financial crisis and the acute sovereign debt crisis in the euro area, the ECB has used new instruments and has taken on new tasks and responsibilities. This has led to discussions about the independence of...

Persistent link: https://www.econbiz.de/10014521951

States, Banks and the Financing of the Economy: Monetary Policy and Regulatory Perspectives

Balling, Morten; Jackson, Patricia; Gnan, Ernest; … - 2013

On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the papers in this publication discuss from different...

Persistent link: https://www.econbiz.de/10011689959

Central bank independence: A rigged debate based on false politics and economics

Palley, Thomas I. - 2019

The case for central bank independence is built on an intellectual two-step. Step one argues there is a problem of inflation prone government. Step two argues independence is the solution to that problem. This paper challenges that case and shows it is based on false politics and economics. The...

Persistent link: https://www.econbiz.de/10012154152

Populism, economic policies and central banking

Gnan, Ernest (contributor); Masciandaro, Donato (contributor) - 2020

Persistent link: https://www.econbiz.de/10012522723

Does government ideology matter in monetary policy? : a panel data analysis for OECD countries

Belke, Ansgar; Potrafke, Niklas - 2009

This paper examines the effect of government ideology on monetary policy in a quarterly data set of 15 OECD countries in the period 1980.1-2005.4. Our Taylor-rule specification focuses on the interactions of a new time-variant indicator for central bank independence and government ideology. The...

Persistent link: https://www.econbiz.de/10003824728

Central bank independence and conservatism under uncertainty : substitutes or complements?

Hefeker, Carsten; Zimmer, Blandine - 2010

This paper revisits the trade-of between central bank independence and conservatism using a New Keynesian model with … holds. In this case, the optimal combination between independence and conservatism is characterised by complementarity …. -- Central bank independence ; Conservatism ; Transparency of monetary policy …

Persistent link: https://www.econbiz.de/10003950407

How are inflation targets set?

Horváth, Roman; Matějů, Jakub - 2011

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first gather evidence from official central bank and government publications and from a questionnaire sent to central banks on how inflation targets are set; we then estimate the...

Persistent link: https://www.econbiz.de/10008798081