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Monetary commitment, institutional constraints and inflation : empirical evidence for OECD countries since the 1970s
Freytag, Andreas (contributor);  … - 2007
Persistent link: https://www.econbiz.de/10003497804
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Monetary policy in Turkey after Central Bank independence
Gürkaynak, Refet S.; Kantur, Zeynep; Taş, M. Anil; … - 2015
inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …
Persistent link: https://www.econbiz.de/10011375680
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Central bank digital currency : when price and bank stability collide
Schilling, Linda; Fernández-Villaverde, Jesús; Uhlig, … - 2020
A central bank digital currency, or CBDC, may provide an attractive alternative to traditional demand deposits held in private banks. When offering CBDC accounts, the central bank needs to confront classic issues of banking: conducting maturity transformation while providing liquidity to private...
Persistent link: https://www.econbiz.de/10012388179
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Does conservatism matter? : a time series approach to central banking
Berger, Helge; Woitek, Ulrich - 1999
negatively correlated with inflation and inflation variance across countries. But the cross-country approach has been criticised … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …
Persistent link: https://www.econbiz.de/10009781685
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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo s World Economic Survey to answer questions on the importance and...
Persistent link: https://www.econbiz.de/10011399168
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The role of political institutions for the effectiveness of central bank independence
Hielscher, Kai; Markwardt, Gunther - 2011
independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country's inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …
Persistent link: https://www.econbiz.de/10009012047
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Stable money and central bank independence : implementing monetary institutions in postwar Germany
Hefeker, Carsten - 2019
Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This is a...
Persistent link: https://www.econbiz.de/10012119851
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Connected lending of last resort
Mitchener, Kris; Monnet, Eric - 2023
Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal connections matter for lending of last resort, highlighting the importance of governance for...
Persistent link: https://www.econbiz.de/10013494187
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Federal monetary policy
Hefeker, Carsten - 2001
What is the optimal institutional structure for an independent central bank? The paper shows when it will be optimal for a country to have a central bank to be organized according to federal, purely national or a combination of both aspects. The analysis is then extended to a supranational...
Persistent link: https://www.econbiz.de/10011398004
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Fiscal aspects of central bank independence
Sims, Christopher A. - 2001
Most macroeconomic models treat the central bank and the trea-sury as a unified entity. The balance sheet of the central bank is therefore implicitly treated as an accounting fiction. While this is often realistic, the central bank balance sheet has implications for central bank independence....
Persistent link: https://www.econbiz.de/10011399700