Effectiveness of Central Bank Independence via Its Internal Characteristics
نویسندگان
چکیده
منابع مشابه
The Effectiveness of Central Bank Independence vs. Policy Rules
This paper assesses the relative effectiveness of central bank independence vs. policy rules for the policy instruments in bringing about good economic performance. It examines historical changes in (1) macroeconomic performance, (2) the adherence to rulesbased monetary policy, and (3) the degree of central bank independence. Macroeconomic performance is defined in terms of both price stability...
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Increasing the independence of a central bank from political influence, although ex-ante socially beneficial and initially successful in reducing inflation, would ultimately fail to lower inflation permanently. The smaller anticipated policy distortions implemented by a more independent central bank would induce the fiscal authority to decrease current distortions by increasing the deficit. Ove...
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ژورنال
عنوان ژورنال: International Journal of Banking and Finance
سال: 2011
ISSN: 1675-722X
DOI: 10.32890/ijbf2011.8.2.8423