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Central Bank Independence and Democracy : Does Transparency Matter?
Ezzat, Asmaa Mohamed; fayed, mona - 2021
disentangling the impact of independence and transparency on democracy. To this end, we regress democracy on both CBI and CB … CBI is conducive to democracy. However, this relationship is dependent on the level of CB transparency, where high levels … of transparency could reverse this positive relation and make CBI an obstacle in face of democracy. Furthermore, CB …
Persistent link: https://www.econbiz.de/10013246125
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Central bank transparency and inflation (volatility) : new evidence
Weber, Christoph S. - 2016
The last decades have shown a tendency towards higher central bank transparency. It became customary for central … question of how central bank transparency is entangled with price stability and inflation volatility. A plethora of studies … transparency leads to lower inflation, others concluded that openness of central banks results in higher prices. Conversely, there …
Persistent link: https://www.econbiz.de/10011525911
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Does central bank transparency and communication affect financial and macroeconomic forecasts?
Lustenberger, Thomas; Rossi, Enzo - 2018
country- and variable-specific effects of central bank transparency on forecast accuracy and their dispersion among a large …
Persistent link: https://www.econbiz.de/10011790688
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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/10012104487
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Does low inflation pose a risk to economic growth and central banks reputation?
Dąbrowski, Marek - 2020
Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the reputation of central banks. Thus, central banks should not...
Persistent link: https://www.econbiz.de/10012230450
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Does an Independent Central Bank Violate Democracy?
Levy, David T. - 1998
The question of central bank independence is one of degree. A completely independent central bank is impossible as long as a country has provisions for altering central bank powers, even if that requires constitutional amendments. On the other hand, any central bank has at least some discretion...
Persistent link: https://www.econbiz.de/10014065449
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Central bank independence and democracy: Does transparency matter?
Fayed, Mona Esam; Ezzat, Asmaa Mohamed - In: Contemporary Economics 14 (2020) 2, pp. 90-111
disentangling the impact of independence and transparency on democracy. To this end, we regress democracy on both CBI and CB … CBI is conducive to democracy. However, this relationship is dependent on the level of CB transparency, where high levels … of transparency could reverse this positive relation and make CBI an obstacle in face of democracy. Furthermore, CB …
Persistent link: https://www.econbiz.de/10014544538
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The role of political institutions for the effectiveness of central bank independence
Hielscher, Kai; Markwardt, Gunther - 2011
This paper empirically studies the impact of the quality of political institutions on the link between central bank independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible nonlinearities, we employ interaction models to...
Persistent link: https://www.econbiz.de/10009012047
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Social trust and central-bank independence
Berggren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - 2012
Central banks have been made more independent in many countries. A common rationale has been the existence of a credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social trust and central-bank independence. Our empirical...
Persistent link: https://www.econbiz.de/10009541929
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Central bank independence and conservatism under uncertainty : substitutes or complements?
Hefeker, Carsten; Zimmer, Blandine - 2010
. -- Central bank independence ; Conservatism ; Transparency of monetary policy …
Persistent link: https://www.econbiz.de/10003950407