Search Results - subject_exact:"Bundesbankgesetz"

Populistic surfing : consensus, monetary and banking policies

Favaretto, Federico; Masciandaro, Donato - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609534

Economic theory and central bank independence

Illing, Gerhard - 2026

During the last decades, central bank independence proved to be the bedrock of credible and effective monetary policy. Both past and recent history provides plenty of evidence of disastrous outcomes with high inflation and economic stagnation, when central banks – lacking independence – were...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612286

Rules vs. discretion and the role of the central bank

El-Shagi, Makram; Gerth, Florian; Philemon, Paul Lukuliko - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613464

Monetary policy committees, independence, and influence

Colla de Robertis, Esteban - 2026

We develop a model of monetary policy committee decision-making, building on the framework of games played through agents (GPTA). Interest groups seek to influence policy by offering action-contingent contracts to committee members. The resulting equilibrium admits a simple characterization and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015615291

Inflation expectations and a conservative central banker : evidence from a natural experiment

Grebe, Moritz; Tillmann, Peter - 2026

This paper studies the response of inflation expectations to an exogenous shift in central bank preferences. We use the unexpected announcement of the resignation of Jens Weidmann, the president of the Deutsche Bundesbank, in 2021 as a natural experiment constituting a rare case of an exogenous...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015615749

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Inflation expectations and a conservative central banker : evidence from a natural experiment

Grebe, Moritz; Tillmann, Peter - 2025

Book / Working Paper

Do lenders price diesel risk? : evidence from Dieselgate and low-emission zones in captive vs. independent banks

Beyene, Winta; Falagiarda, Matteo; Ongena, Steven; … - 2026

Transitioning to a sustainable economy and reducing air pollution hinge on appropriate economic incentives and financing conditions. The auto loan market offers a prime setting, as lenders' credit terms can either discourage or incentivize the purchase of high-pollution vehicles. Using...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015579743

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Do lenders price diesel risk? : evidence from Dieselgate and low-emission zones in captive vs. independent banks

Beyene, Winta; Falagiarda, Matteo; Ongena, Steven; … - 2026

Book / Working Paper

Central bank independence : an update

Eijffinger, Sylvester C. W.; Haan, Jakob de - 2026 - Version 30 January 2026

Central bank independence (CBI) refers to the absence of influence of politicians on monetary policy making. Since we wrote our first surveys of the literature on central bank independence (Eijffinger and de Haan, 1996 and Berger et al., 2001), a lot has changed. The level of CBI has increased...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015605312

Independence of the central bank : too much power in the hands of unelected technocrats?

Issing, Otmar - 2026

Under the overwhelming evidence of numerous empirical studies that found a negative correlation between the degree of independence and the level of inflation, many governments granted their national central banks independent status around 1990. With low inflation rates in the subsequent period -...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625779

Central Bank independence, transparency, and interaction with fiscal policy : the case of a small open economy

Trabelsi, Emna - 2026

This study examines the determinants of inflation volatility in Tunisia, focusing on central bank independence (CBI), economic transparency, and macroeconomic fundamentals. Although CBI is widely regarded as essential for monetary credibility, its effectiveness depends on its institutional...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015626050

Democratic sovereignty and the prerogative to make money : the case of the Federal Reserve

Desan, Christine - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639807

The practice of U.S. monetary policy independence from Martin to Greenspan

Nelson, Edward - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653051

The tradition of Federal Reserve independence

Rose, Jonathan; Wheelock, David C. - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015669744

The perils of technocratic power : central bank discretion and the end of bretton woods revisited

Sahasrabuddhe, Aditi; Seddon, Jack - 2025

Recent crises have cast doubt on the legitimacy of technocratic power, yet its role in global economic governance remains poorly understood. Revisiting the collapse of Bretton Woods, we propose a dynamic theory of global monetary governance to explain how expanding central bank discretion can...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015373779

Banks' stock market reaction to prudential policy announcements : the role of central bank independence and financial stability sentiment

Bobiceanu, Andreea Maura; Nistor, Simona; Ongena, Steven - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015211786

A general framework to assess the smooth implementation of monetary policy : an application to the introduction of the digital euro

De Nicola, Annalisa; Lo Russo, Michelina - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015173458

Lessons for the European Central Bank from the 2021-23 inflationary episode

Hernández de Cos, Pablo - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015419454

Long run inflation : persistence and central bank independence

Athanasopoulos, Angelos; Masciandaro, Donato; Romelli, … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015466909

Accounting policies, distribution rules, and the financial performance of central banks

Goncharov, Igor; Novotny-Farkas, Zoltán; Pizzo, Carmine - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015449022

Central bank capital and independence : a quantitative case study

Vestin, David; Vredin, Anders; Åhl, Magnus - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015449041

Central Bank Independence and Sovereign Borrowing

Athanasopoulos, Angelos; Fraccaroli, Nicolò; Kern, Andreas - 2025

This paper studies the impact of central bank independence on sovereign borrowing, using an index that captures institutional constraints on central bank lending to the government across 155 countries from 1972 to 2023. The findings show that tighter lending to the executive significantly...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015454216

Lessons for the European Central Bank from the 2021-2023 inflationary episode

Hernández de Cos, Pablo - 2025

Since mid-2021, the euro-area economy has gone through several shocks, leading to the highest inflation since the creation of the European Monetary Union. A forceful and persistent response from the European Central Bank, grounded in the monetary policy framework it agreed in 2021 ahead of the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015406655

The new normal? : central banks as social insurers and reputation-protecting political agents

Bateman, Will - 2025

An idée fixe of Great Moderation economic policy was that central banks are only effective macroeconomic managers when they are segregated from electoral politics. That idea made a swift transition from radical heterodoxy to commonsensical orthodoxy during the 1980s and proved remarkably...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413137

Central bank independence and risk-taking at the zero lower bound

Bartels, Bernhard; Eichengreen, Barry; Schumacher, Julian; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655496

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Central bank independence and risk-taking at the zero lower bound

Bartels, Bernhard; Eichengreen, Barry; Schumacher, Julian; … - 2025

Book / Working Paper

An implicit credibility index for the central banks that implemented inflation-targeting regime

Köse, Nezir; Süt, Ali Talih - 2025

This study proposes an implicit index for central bank credibility, which is critical in developing countries implementing an inflation-targeting regime. In a credible central bank, the policy rate impacts the interest rate on short-term deposits. Under this assumption, the residuals obtained...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015438614

Who paid for the profits of Taiwan's central bank?

Chang, Juin-jen; Chang, Wan-Ting; Chien, YiLi; Kuo, … - 2025

We analyze the interaction between the Taiwan central bank's profits and its policies. To earn large and consistent profits, the Taiwan central bank significantly expanded its balance sheet and relied on inexpensive short-term domestic funding to invest in longer-term foreign debt securities. In...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015439096

Does central bank independence affect inflation?

Gojčaj, Vera - 2025

The objective of this paper is to analyze the impact of central bank independence on inflation in Western Balkan countries, from 2010q1 to 2022q4. In this paper the panel Autoregressive Distributed Lags (ARDL) model for six Western Balkan countries is used to analyse the effects of central bank...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015458698

Partisan politics and Fed policy choices : a Taylor rule approach

Corder, J. Kevin - 2025

How do the President and the Congress affect the policy choices of the Federal Open Market Committee, the primary policymaking arm of the Federal Reserve System (the Fed)? I draw on a commonly used tool for estimating the sensitivity of Fed responses to output and inflation - the Taylor rule -...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015444554

Do central bank reforms lead to more monetary discipline?

2025

This paper investigates the impact of reforms altering legal central bank independence (CBI) on monetary policy discipline and credibility, two key mechanisms shaping price stability. Using a sample of 155 countries over more than 50 years (1972-2023), we show that reforms improving CBI...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015429589

Redefining scientization : central banks between science and politics

Goutsmedt, Aurélien; Sergi, Francesco - 2025

This article introduces a new conceptual framework for examining the transformation of central banks' activities at the intersection of science and politics. It builds on the results of the contributions gathered in this special section on the scientization of central banking, to which this...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015608178

Not a steamroller, a 3D process : scientization at the Bank of England

Goutsmedt, Aurélien; Sergi, Francesco; Claveau, François - 2025

This article investigates the scientization process in central banks, using the Bank of England (BoE) as a case study. Its main goal is to clarify the interactions and tensions among three dimensions of scientization: contributory, policymaking and legitimizing. To do so, we outline an ideal...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015608182

Scientization of central bank governance : a global study of governors' biographies, 2000-2020

Dogan, Aykiz; Lebaron, Frédéric - 2025

This article focuses on the elites governing central banks in order to provide new theoretical and empirical insights into central bank scientization. We first critically discuss the "politics of scientization" as a discursive strategy that depoliticizes monetary policy under neoliberalism. We...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015608194

Scientization : a self-critical afterthought

Marcussen, Martin - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015608196

Central banking in times of digitalisation and fragmentation

2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609555

Central Bank Exploration of Tokenized Reserves

Kunaratskul, Tansaya - 2025

How should central banks explore tokenized reserves? Central banks are increasingly exploring how to make their reserves available to selected banks using distributed ledger technology, referred to as tokenized reserves. This chapter covers policy objectives for tokenized reserves, operating...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612861

The nature of central banking

Marshall, Wesley C.; Rochon, Louis-Philippe; Vidal … - 2025

In this article we argue that we can more easily understand the duality of central banks (CBs) and independent central banks (ICBs) through an understanding of their underlying dualities. As we explore, heterodox and orthodox views and methodologies present two distinct ways of conceptualizing...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613442

How does central bank independence influence the relationship between inflation, income inequality and poverty?

Tiberto, Bruno Pires - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574322

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How does central bank independence influence the relationship between inflation, income inequality and poverty?

Tiberto, Bruno Pires - 2025

Book / Working Paper

The fragility of depoliticization : revisiting the history of central bank inflation-management

Best, Jacqueline - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015550573

Jackson, James; Bailey, Daniel; Paterson, Matthew - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015551435

Introduction: the new political economy of central banks : reluctant Atlases?

Quaglia, Lucia; Verdun, Amy - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015551484

Revisiting central bank independence for the climate era : insights from the People's Bank of China

Larsen, Mathias; Jackson, James - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015531623

Central bank independence and inflation in the MENA region : does institutional quality matter?

Mouatassim, Abdellatif; Kchikeche, Ahmed; Hiri, … - 2025

This paper examines the impact of Central Bank independence on Inflation in 16 MENA countries from 1990 to 2017. By employing a two-stage least squares instrumental variables approach, the study assesses the influence of three legal independence measures on the inflation rate. It investigates...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591512

Why should fiscal imbalances concern policymakers at independent inflation-targeting central banks?

McClung, Nigel - 2025

This note offers a brief snapshot of selected insights from the literature on monetary-fiscal interactions and their implications for inflation-targeting central banks in an era of high public debt. It highlights the fiscal foundations of price stability and potential coordination issues when...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015580490

Inflation and energy price shocks : lessons from the 1970s

Gomellini, Matteo; Pellegrino, Dario; Corsello, Francesco - 2025

The 1970s oil shocks sparked high and persistent inflation in advanced economies, also tied to the collapse of the Bretton Woods international monetary system in 1971 that left monetary policy without a stable institutional reference framework. Only in the following decades did a new monetary...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015605376

Central bank independence in practice : essays based on remarks presented at a high-level conference at the Peterson Institute for International Economics

2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015644210

Central bank independence, income inequality and poverty : what do the data say?

Sturm, Jan-Egbert; Bodea, Cristina; Haan, Jakob de; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015652162

Central bank electronic cash and monetary sovereignty

Bindseil, Ulrich; Cipollone, Piero - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015635529

Hedging sanctions risk : cryptocurrency in central bank reserves

Ferranti, Matthew - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574326

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Hedging Sanctions Risk : Cryptocurrency in Central Bank Reserves

Ferranti, Matthew - 2023

Book / Working Paper

Do central bank reforms lead to more monetary discipline?

Jung, Alexander; Romelli, Davide; Farvaque, Étienne - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015397507

The impossible trinity in economic and monetary union : how to solve it

Iancu, Aurel - 2025

This article is focusing on the economic literature attempting to solve the problem of the impossible trilemmas of the euro area, by reconciling the relations between the three essential pillars - supranational monetary independence, national fiscal independence and the no bail-out clause...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015559168

The political economy of monetary-fiscal coordination : central bank losses and the specter of central bankruptcy in Europe and Japan

Diessner, Sebastian - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015055260