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Central Bank Independence And Transparaency
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Book Synopsis Central Bank Independence and Transparency: Evolution and Effectiveness by : Christopher W. Crowe
Download or read book Central Bank Independence and Transparency: Evolution and Effectiveness written by Christopher W. Crowe and published by INTERNATIONAL MONETARY FUND. This book was released on 2008-05-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the current level of central bank independence (CBI) and transparency in a broad sample of countries using newly constructed measures, and looks at the evolution in both measures from an earlier time period. Increases in CBI have tended to occur in more democratic countries and in countries with high levels of past inflation. More independent central banks in turn tend to be more transparent, while transparency is also positively correlated with measures of national institutional quality. Exploiting the time dimension of our data to eliminate country fixed effects and using instrumental variable estimation to overcome endogeneity concerns, we present evidence that greater CBI is associated with lower inflation. We also find that enhanced transparency practices are associated with the private sector making greater use of information provided by the central bank.
Book Synopsis Central Bank Independence, Accountability, and Transparency by : B. Laurens
Download or read book Central Bank Independence, Accountability, and Transparency written by B. Laurens and published by Springer. This book was released on 2016-04-30 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores three key areas of central banking and governance - autonomy, accountability and transparency. It looks at links between the areas, as well as assessing the impact of central bank autonomy on macroeconomic performance. The issues are approached from theoretical and empirical perspectives.
Download or read book Unelected Power written by Paul Tucker and published by Princeton University Press. This book was released on 2019-09-10 with total page 662 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tucker presents guiding principles for ensuring that central bankers and other unelected policymakers remain stewards of the common good.
Book Synopsis Central Bank Independence by : Jan Kleineman
Download or read book Central Bank Independence written by Jan Kleineman and published by BRILL. This book was released on 2021-10-18 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Central Bank Independence and Transparaency by : Jan Libich
Download or read book Central Bank Independence and Transparaency written by Jan Libich and published by . This book was released on 2004 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Central Bank Governance and Oversight Reform by : John Cochrane
Download or read book Central Bank Governance and Oversight Reform written by John Cochrane and published by Hoover Press. This book was released on 2016-05-01 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central bank needs authority and a sphere of independent action. But a central bank cannot become an unelected czar with sweeping, unaccountable discretionary power. How can we balance the central bank's authority and independence with needed accountability and constraints? Drawn from a 2015 Hoover Institution conference, this book features distinguished scholars and policy makers' discussing this and other key questions about the Fed. Going beyond the widely talked about decision of whether to raise interest rates, they focus on a deeper set of questions, including, among others, How should the Fed make decisions? How should the Fed govern its internal decision-making processes? What is the trade-off between greater Fed power and less Fed independence? And how should Congress, from which the Fed ultimately receives its authority, oversee the Fed? The contributors discuss whether central banks can both follow rule-based policy in normal times but then implement a discretionary do-what-it-takes approach to stopping financial crises. They evaluate legislation, recently proposed in the US House and Senate, that would require the Fed to describe its monetary policy rule and, if and when it changed or deviated from its rule, explain the reasons. And they discuss to best ways to structure a committee—like the Federal Open Market Committee, which sets interest rates—to make good decisions, as well as offer historical reflections on the governance of the Fed and much more.
Book Synopsis Central Bank Independence, Accountability, and Transparency by : B. Laurens
Download or read book Central Bank Independence, Accountability, and Transparency written by B. Laurens and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores three key areas of central banking and governance - autonomy, accountability and transparency. It looks at links between the areas, as well as assessing the impact of central bank autonomy on macroeconomic performance. The issues are approached from theoretical and empirical perspectives.
Book Synopsis Six Practical Views of Central Bank Transparency by : Adam S. Posen
Download or read book Six Practical Views of Central Bank Transparency written by Adam S. Posen and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the span of fifteen years, central bank transparency has gone from being highly controversial to an accepted broad goal to which all central banks pay at least lip service. Yet, like many other broad concepts in economic policy, what central bank transparency actually means remains rather open to debate. Recent monetary theory has been unsuccessful in providing clarity because it emphasizes the issue of discerning a central bank's "type." In practice, central bank transparency has implications for a number of day-to-day issues. These include the persistence of inflation, the response of financial markets to central bank announcements, and the treatment of intermediate monetary targets - that is, central bank transparency influences the short-run dynamics of private-sector expectations. The evidence, in fact, is that the effect of greater transparency on these dynamics is beneficial. There is, however, a disturbing apparent disjunction between central bank transparency and accountability in reality. Recent developments in Japan and, to a lesser degree, in the United States and the eurozone have amply demonstrated that central bank independence can expand in harmful ways even as transparency increases and inflation targeting is adopted. It is time to discard two misleading claims: first, that increased transparency inhibits central bank independence; and second, that transparency provides sufficient accountability for central banks in democratic societies. Instead, we should remove the goal independence of all central banks that retain it, including the Bank of Japan, the Federal Reserve, and the European Central Bank.
Book Synopsis Do Monetary Policy Transparency, Independence and Credibility Enhance Macro- Financial Stability? by : Eleftherios Spyromitros
Download or read book Do Monetary Policy Transparency, Independence and Credibility Enhance Macro- Financial Stability? written by Eleftherios Spyromitros and published by . This book was released on 2009 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is generally agreed that the credibility, independence and transparency of the central bank have produced better overall policy outcomes and reduced the financial market uncertainty. This paper, using panel data approach, evaluates the effect of, respectively, the central bank transparency, independence and credibility on, respectively, the level and variability of realized and expected economic performance. It also analyzes the effects of central banks characteristics on the level and variability of Government bond rate. The results obtained suggest that central bank independence does not influence the realized and expected level and variability of economic performance. As for the central bank transparency, our findings are consistent with the view that greater transparency could have a desirable reputational effect that lowers inflation expectations and long-term nominal interest rates. Finally, our results show that central bank credibility negatively influences the level and variability of Government bond rate.
Book Synopsis Central Bank Independence, Accountability and Transparency by : Andrew Hughes Hallett
Download or read book Central Bank Independence, Accountability and Transparency written by Andrew Hughes Hallett and published by . This book was released on 2006 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis IMF Working Papers by : Christopher W. Crowe
Download or read book IMF Working Papers written by Christopher W. Crowe and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Credibility of Central Bank Independence Revisited by : Mr.Timo Valila
Download or read book Credibility of Central Bank Independence Revisited written by Mr.Timo Valila and published by International Monetary Fund. This book was released on 1999-01-01 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The specific role of central bank independence in determining the overall credibility of monetary policy is addressed in this paper. It is argued that the credibility of delegating monetary policy to an independent central bank is endogenous to the credibility of the inflation target because a “conservative” inflation target may not be compatible with the fiscal policy stance. Also, lack of transparency in designing the institutional set-up is shown to be welfare-reducing.
Book Synopsis Bankers, Bureaucrats, and Central Bank Politics by : Christopher Adolph
Download or read book Bankers, Bureaucrats, and Central Bank Politics written by Christopher Adolph and published by Cambridge University Press. This book was released on 2013-04-15 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adolph illustrates the policy differences between central banks run by former bankers relative to those run by bureaucrats.
Book Synopsis The Federal Reserve System Purposes and Functions by : Board of Governors of the Federal Reserve System
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
Book Synopsis Central Bank Transparency and Independence by : N. Nergiz Dincer
Download or read book Central Bank Transparency and Independence written by N. Nergiz Dincer and published by . This book was released on 2017 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reports updated measures of transparency and independence for more than 100 central banks. The indices show that there has been steady movement in the direction of greater transparency and independence over time. In addition, we show that outcomes such as the variability of inflation are significantly affected by both central bank transparency and independence. Disentangling the impact of the two dimensions of central bank arrangements remains difficult, however.
Book Synopsis Central Banks at a Crossroads by : Michael D. Bordo
Download or read book Central Banks at a Crossroads written by Michael D. Bordo and published by Cambridge University Press. This book was released on 2016-06-09 with total page 719 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the role of central banks and draws lessons from examining their evolution over the past two centuries.
Book Synopsis Advanced Introduction to Central Banks and Monetary Policy by : de Haan, Jakob
Download or read book Advanced Introduction to Central Banks and Monetary Policy written by de Haan, Jakob and published by Edward Elgar Publishing. This book was released on 2022-08-12 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by two expert economists, this comprehensive Advanced Introduction provides a thorough and up-to-date analysis of central banks and monetary policy, analysing the ways in which views about monetary policy have developed and changed.
