Search Results - subject_exact:"Central bank law"

Populistic surfing : consensus, monetary and banking policies

Favaretto, Federico; Masciandaro, Donato - 2026

Persistent link: https://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://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://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://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://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

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

Grebe, Moritz; Tillmann, Peter - 2026

Persistent link: https://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://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

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

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641397

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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://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://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://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://ebvufind01.dmz1.zbw.eu/10015639807

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

Nelson, Edward - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653051

The tradition of Federal Reserve independence

Rose, Jonathan; Wheelock, David C. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669744

The Federal Reserve's monetary policy framework : more to do to buttress independence

2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676816

Challenges to Independence: How should Central Banks Respond -- Lessons from History

Kohn, Donald L. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672956

Monetary policy and Taylor reaction functions : business cycles, central bank governance and central bankers’ preferences

Masciandaro, Donato - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675063

Legal origins, central bank independence and inflation stability : institutional determinants of sustainable monetary policy

Koziuk, Viktor; Klapkiv, Jurij - 2026

This paper examines whether legal origins influence the anti-inflationary effectiveness of central banks. While prior literature emphasizes the role of institutional frameworks in shaping financial systems, less attention has been paid to how legal traditions affect the relationship between...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016061653

Central bank independence under political pressure

Lehmus, Markku; Pitkäranta, Juho - 2026

Central bank independence has recently come under increasing political pressure. In this article, we examine measures of central bank independence to better understand how de jure independence is associated with the de facto independence of central banks. We then use the Lohmann (1992) framework...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015677258

The impact of public knowledge about central bank independence on trust and inflation expectations

Brouwer, Nils; Haan, Jakob de - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016070417

The Credibility Premium : Central Bank Independence and Local-Currency Sovereign Yields

Alter, Adrian - 2026

Central bank independence (CBI) is a key institutional feature for price stability, but its role in sovereign debt markets is less understood. This paper examines whether CBI lowers borrowing costs in local-currency sovereign debt markets in emerging and developing economies. Using data for up...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016087894

The Macroeconomic Consequences of Undermining Central Bank Independence : Evidence from Governor Transitions

Bolhuis, Marijn - 2026

This paper studies the macroeconomic consequences of undermining central bank independence through politically motivated transitions of central bank governors. Leveraging a new panel dataset covering 132 central bank governor transitions in 28 advanced and emerging market economies since 2000,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016087941

Central Bank Independence and Monetary Policy Effectiveness in the Middle East, Central Asia and Caucasus

Gershenson, Dmitry - 2026

The subject of central bank independence (CBI) remains a keenly debated topic even decades into its adoption in a growing number of countries. CBI has recently come under renewed scrutiny, including in the Middle East and Central Asia (ME&CA) countries, as pressures for monetary policy to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016087946

Remembering crises : the making of monetary distrust in Argentina

Moreno, Guadalupe - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016073919

Central bank autonomy and stock market index in Nigeria : an ARDL and TYDL Granger causality approach

Olurin, Enitan Olurotimi; Olokoyo, Felicia Omowunmi; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016072700

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://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://ebvufind01.dmz1.zbw.eu/10015211786

Persistence in a changing world : gold backing and monetary policy autonomy under bretton woods

Monnet, Eric - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015617556

Central bank independence and accountability : an update

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015618001

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://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://ebvufind01.dmz1.zbw.eu/10015419454

Central banking, monetary policy and the common good

2026

"This incisive book reframes the discourse surrounding monetary policy in terms of the common good, to provide broader social benefits. Leading experts illustrate how and why the common good must be understood in the context of creating more, not less, employment. Authors adopt an innovative...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063367

Long run inflation : persistence and central bank independence

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015466909

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

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

Persistent link: https://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

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

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015449022

A case for a Keynesian-Schumpeterian problem-solving central banking : bridging the law-practice gap

Krampf, Arie - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016092834

Central bank capital and independence : a quantitative case study

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

Persistent link: https://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://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://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://ebvufind01.dmz1.zbw.eu/10015413137

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://ebvufind01.dmz1.zbw.eu/10015439096

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

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655496

Show one more version 1

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

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

Book / Working Paper

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://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://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://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://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://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://ebvufind01.dmz1.zbw.eu/10015608194

Scientization : a self-critical afterthought

Marcussen, Martin - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015608196

Central banking in times of digitalisation and fragmentation

2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015609555