The Politics Of Central Bank Independence
DOWNLOAD
Download The Politics Of Central Bank Independence PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Politics Of Central Bank Independence book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
The Politics Of Central Bank Independence
DOWNLOAD
Author : Jakob de Haan
language : en
Publisher:
Release Date : 2016
The Politics Of Central Bank Independence written by Jakob de Haan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
This paper reviews recent research on the political economy of monetary policy-making, both by economists and political scientists. The traditional argument for central bank independence (CBI) is based on the desire to counter inflationary biases. However, studies in political science on the determinants of central bank independence suggest that governments may choose to delegate monetary policy in order to detach it from political debates and power struggles. This argument would be especially valid in countries with coalition governments, federal structures and strongly polarized political systems. The recent financial crisis has changed the role of central banks as evidenced by the large set of new unconventional monetary and macro-prudential policy measures. But financial stability and unconventional monetary policies have much stronger distributional consequences than conventional monetary policies and this has potential implications for the central bank's independence. It may also have changed the regime from monetary dominance to fiscal dominance. However, our results do not suggest that CBI has been reduced since the Great Financial Crisis. This holds both for legal measures of CBI and the turnover rate of central bank governors.
Central Bank Independence Targets And Credibility
DOWNLOAD
Author : Francesco Lippi
language : en
Publisher: Edward Elgar Publishing
Release Date : 1999-01-27
Central Bank Independence Targets And Credibility written by Francesco Lippi and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-27 with Business & Economics categories.
This book integrates new political and economic elements into the analysis of monetary policy credibility and central bank independence. The author considers imperfect monetary control, rational voters, distributional issues and uncertainty about future policy objectives in his welfare analysis of central banking. The role played by the different institutional elements that contribute to the making of an independent central bank is also assessed. A distinction is made between central bank independence and targets offering new insights into how a more inflation averse monetary policy may actually be achieved. Finally, explanations for the variation of central bank independence and conservatism across different countries are provided. This book will appeal to researchers, academics and policy makers in the fields of monetary policy, financial economics, money and banking and political economy.
The Politics Of Central Banks
DOWNLOAD
Author : Robert Elgie
language : en
Publisher: Routledge
Release Date : 2012-11-12
The Politics Of Central Banks written by Robert Elgie and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Political Science categories.
This book is a study of power. In particular, it is a study of governmental power in Britain and France. Its focus is the changing relationship between the government and the central bank in the two countries, and it examines the politics of this relationship since the time when the Bank of England and the Bank of France were first created. The book begins by considering the issue of governmental control generally. It then focuses on monetary policy making, and asks what has been the role of governments in this area and what freedom have central banks enjoyed? After a detailed historical analysis of this issue in Britain and France, the authors conclude by considering the likely role of the European Central Bank.
Choosing Coalition Partners
DOWNLOAD
Author : Young Hark Byun
language : en
Publisher:
Release Date : 2006
Choosing Coalition Partners written by Young Hark Byun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Banks and banking, Central categories.
Financial Citizenship
DOWNLOAD
Author : Annelise Riles
language : en
Publisher: Cornell University Press
Release Date : 2018-07-15
Financial Citizenship written by Annelise Riles and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-15 with Business & Economics categories.
Government bailouts; negative interest rates and markets that do not behave as economic models tell us they should; new populist and nationalist movements that target central banks and central bankers as a source of popular malaise; new regional organizations and geopolitical alignments laying claim to authority over the global economy; households, consumers, and workers facing increasingly intolerable levels of inequality: These dramatic conditions seem to cry out for new ways of understanding the purposes, roles, and challenges of central banks and financial governance more generally. Financial Citizenship reveals that the conflicts about who gets to decide how central banks do all these things, and about whether central banks are acting in everyone’s interest when they do them, are in large part the product of a culture clash between experts and the various global publics that have a stake in what central banks do. Experts—central bankers, regulators, market insiders, and their academic supporters—are a special community, a cultural group apart from many of the communities that make up the public at large. When the gulf between the culture of those who govern and the cultures of the governed becomes unmanageable, the result is a legitimacy crisis. This book is a call to action for all of us—experts and publics alike—to address this legitimacy crisis head on, for our economies and our democracies.
Monetary Sovereignty
DOWNLOAD
Author : John Benjamin Goodman
language : en
Publisher: Cornell University Press
Release Date : 1992
Monetary Sovereignty written by John Benjamin Goodman and has been published by Cornell University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
Central Bank Independence
DOWNLOAD
Author : Jan Kleineman
language : en
Publisher: BRILL
Release Date : 2021-10-18
Central Bank Independence written by Jan Kleineman and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-18 with Law categories.
In December 1999, prior to the forming of a Stockholm Centre for Commercial Law, an international symposium entitled Central Bank Independence was held at the Department of Law at Stockholm University in co-operation with the Swedish Central Bank (The Riksbank) and Queen Mary and Westfield College, London University. The participants were principally political, economic and legal specialists in the field, all with considerable international experience. This led to the topic being examined in detail from many different perspectives. This publication includes contributions by the participants and contains many important facts for those readers who wish to study and understand the different consequences of the yielding of control over financial policymaking by the traditional political organisations to a body of experts. For readers in some countries, who realise that the subject will revolutionise traditional Constitutional and Administrative Law, the topic and therefore this publication, cannot be ignored.
Unelected Power
DOWNLOAD
Author : Paul Tucker
language : en
Publisher: Princeton University Press
Release Date : 2019-09-10
Unelected Power written by Paul Tucker and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-10 with Business & Economics categories.
Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
The Politics Of Central Bank Independence
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 2005
The Politics Of Central Bank Independence written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Banks and banking, Central categories.
"We propose a theory to explain why, and under what circumstances, a politician endogenously gives up rent and delegates policy tasks to an independent agency. Applied to monetary policy, this theory (i) formalizes the rationale for delegation highlighted by Alexander Hamilton, the first Secretary of the Treasury of the United States, and by Alan S. Blinder, former Vice Chairman of the Board of Governors of the Federal Reserve System; and (ii) does not rely on the inflation bias that underlies most existing theories of central bank independence. Delegation trades off the cost of having a possibly incompetent technocrat with a long-term job contract against the benefit of having a technocrat who (i) invests more effort into the specialized policy task and (ii) has less incentive to pander to public opinion than a politician. Our key theoretical predictions are broadly consistent with the data"--Federal Reserve Bank of New York web site.
A Political Agency Theory Of Central Bank Independence
DOWNLOAD
Author : Mr.Eric Le Borgne
language : en
Publisher: International Monetary Fund
Release Date : 2003-07-01
A Political Agency Theory Of Central Bank Independence written by Mr.Eric Le Borgne and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-07-01 with Business & Economics categories.
We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks to an independent agency. We apply this theory to monetary policy by extending a standard dynamic "New-Keynesian" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the standard inflation bias problem. We derive several new predictions and show that they are consistent with the data. Finally, we show that while instrument independence of the central bank is desirable, goal independence is not.