Delegating monetary policy to an independent central bank will not incur coordination problems with fiscal policy. The fiscal authority faces no incentive to try and expand the economy, as its efforts will be quickly countered by a contractionary monetary policy to maintain the inflation target. We argue that this proposition is not true in an open economy. When the external sector is added to ...

the purpose of this research is to prioritize the indexes of discretion, heterogeny and autogeny factors in order to analyze and evaluate their readiness for ideal situation of central bank of the islamic republic of iran (cbi). this research is an exploratory kind and in terms of method is a survey kind. the data collection tool is questionnaire. after two delphi cycles, in final questionnaire...

inflation forecasting has been one of the requirements for the implementation of monetary policy in countries which their monetary authorities are pursuing inflation targeting regime. however, owing to central bank independence in one hand and as well as the lagged effects of monetary policies on inflation in the other, the monetary authorities should have the sound perspective about the future...