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The helicopter money puzzle : economic and political economy arithmetic

Masciandaro, Donato - 2020

We have helicopter money when there is a lump-sum monetary transfer which produces intended central bank capital losses and/or a permanent monetary base change. This extraordinary monetary policy option appears whenever there is a significant economic crisis. But then the helicopter never flies....

Persistent link: https://www.econbiz.de/10012224069

Populism, economic policies and central banking

Agur, Itai; Gnan, Ernest; Masciandaro, Donato; Binder, … - Populism, Economic Policies and Central Banking …; … - 2020

Persistent link: https://www.econbiz.de/10012225066

Populism, Financial Inequality and Central Bank Independence : A Political Economics Approach

Masciandaro, Donato - 2018

This paper examines myopic, populist policies that guarantee short-term financial protection of the people from the elite without regard for long-term fiscal or monetary distortions. Assuming that citizens are financially heterogeneous, this paper shows that inefficient outcomes can arise when...

Persistent link: https://www.econbiz.de/10012922659

COVID-19 helicopter money, monetary policy and Central Bank independence : economics and politics

Masciandaro, Donato - 2020

This article discusses a form of fiscal monetization that produces losses in the central bank's balance sheet, without a permanent increase in the money base. If an independent central bank acts as a long-sighted policymaker, an optimal helicopter monetary policy can be identified. At the same...

Persistent link: https://www.econbiz.de/10012210740

Checks and Balances, Private Information, and the Credibility of Monetary Commitments

Keefer, Philip; Stasavage, David - 2004

In economically volatile conditions in which it is more difficult for the public to distinguish inflation deliberately … generated by government from inflation created by unanticipated economic shocks, the anti-inflationary effect of central bank … policy to inflation. Exchange rate pegs, however, mitigate these problems. The authors present extensive evidence from cross …

Persistent link: https://www.econbiz.de/10014130241

The Post-Pandemic Inflation and Central Bank Independence

Leitão Amaro, António - 2023

The ongoing post-pandemic inflation burst has put the monetary policy framework, its governance alternatives, and the … politicized yet independent model of central banking over the past two decades on the inflation burst. The study identifies four … demanding advanced stages of the fight against inflation. It is anticipated that this episode will contribute to complete the …

Persistent link: https://www.econbiz.de/10014349722

How Effective Are Monetary Incentives to Vote? Evidence from a Nationwide Policy

Gonzales, Mariella - 2019

We combine two natural experiments, multiple empirical strategies and administrative data to study voters' response to marginal changes to the fine for electoral abstention in Peru. A smaller fine leads to a robust decrease in voter turnout. However, the drop in turnout caused by a full fine...

Persistent link: https://www.econbiz.de/10012865643

Inflation and energy price shocks : lessons from the 1970s

Corsello, Francesco; Gomellini, Matteo; Pellegrino, Dario - 2023

Persistent link: https://www.econbiz.de/10014391328

Monetary policy implications of deviations in inflation targeting : the need for a global cooperative, coordinated and correlated response

Delaney, Marianne Ojo; Dierker, Theodore - In: Innovation and sustainable growth in a digital age, (pp. 123-146). 2023

Persistent link: https://www.econbiz.de/10014383961

Effects of Central Bank independence and financial stability on inflation in selected African countries

Adamu Yahaya; Saidu, Mohammed T.; Sadi, Abdulaziz - In: CBN journal of applied statistics 13 (2022) 2, pp. 155-184

This study examines the relationship between central bank independence (CBI), financial stability, and inflation in 14 … independence and inflation. On the other hand, financial stability is only significant in the MG Model. Additional results obtained … from all forms of political and government influence in order to have greater chance of achieving lower inflation within …

Persistent link: https://www.econbiz.de/10014364290