Should the central bank's management and operation of the hands of an independent of the Government, third-party institutions. Central banks to master the financial power, and parallel to the executive power, free from the control of the executive power. !
This article extends the inspection of Central Bank Independence (CBI) with respect to inflation performance to an examination of the relationship between CBI and economic welfare in general. The common view of monetary neutrality, i.e. a "free lunch" of CBI with respect to economic growth and...
The case for an independent central bank is becoming increasingly accepted. This new orthodoxy is based on three foundations: the success of the Bundesbank... G Debelle,S Fischer - 《Working Papers in Applied Economic Theory》 被引量: 970发表: 1994年 How should central banks communicate? The ...
Should the somewhat arbitrary goal of 2% be changed? The question may seem a little churlish when central banks are so flagrantly missing their existing targets: annual inflation in America, Britain and the euro area, for instance, is running at around 9%. The Federal Reserve’s experiment wit...
Why Central Banks Should Be Independent Central banks have largely failed to design neutral monetary policies, without direct political pressures unduly influencing their decisions. The most egregious trio of offenders, known as the Big Threecontemporary central banks, are the Federal Reserve, European C...
Based on a cross section of 60 countries, the paper's empirical results show that more independent and focused central banks tend to be less prone to financial instability. This evidence supports the idea of synergies between price and financial stability, at least in terms of the central bank...
The argument is based on a model that studies the interaction of major macroeconomic players with the central bank. In the Paper I make a distinction between (i) uncertainty about the central banks objectives and (ii) inflation uncertainty. This distinction turns out to be crucial. I assume ...
The Optimal Inflation Rate in New Keynesian Models: Should Central Banks Raise Their Inflation Targets in Light of the Zero Lower Bound? 来自 Semantic Scholar 喜欢 0 阅读量: 103 作者:Y Gorodnichenko,J Wieland,O Coibion 摘要: We study the effects of positive steady-state inflation in New ...
The role of central banks in money and payments systems; a conference sponsored by the Federal Reserve Bank of Cleveland, October 28-30, 1998 Paper for a conference sponsored by the Federal Reserve Bank of New York entitled Financial Innovation and Monetary Transmission DE Altig,S Issue 被引量...
Should Central Banks Stabilize Prices?Should Central Banks Stabilize Prices?Reexamines the arguments for and against the pursuing a policy of price stability by central banks. Implications for long-run price stability; Ways by which inflation can interfere with the operation of the price system; Fact...