Central Bank Independence Regulations And Monetary Policy

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Central Bank Independence, Regulations, and Monetary Policy

Author : Ranajoy Ray Chaudhuri
Publisher : Springer
ISBN 13 : 1137589124
Total Pages : 406 pages
Book Rating : 4.1/5 (375 download)

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Book Synopsis Central Bank Independence, Regulations, and Monetary Policy by : Ranajoy Ray Chaudhuri

Download or read book Central Bank Independence, Regulations, and Monetary Policy written by Ranajoy Ray Chaudhuri and published by Springer. This book was released on 2018-10-29 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the linkage between central bank structure, central bank autonomy—with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence—and monetary policy, both in select benchmark countries and at a broader theoretical level. Country-specific chapters on the US, UK, Germany, Greece, Russia, India, China, Japan, Brazil, and South Africa focus on the history, administrative structure, and independence of the central monetary authority in these countries. The chapters go on to explore the countries’ conduct of monetary policy, their interplay with political forces and the wider economy, their currency, and their macroeconomic outcomes. The book will appeal to researchers, students of economics, finance and business, as well as general readers with an interest in the subject.

Central Bank Independence

Author : Jan Kleineman
Publisher : BRILL
ISBN 13 : 9004481303
Total Pages : 238 pages
Book Rating : 4.0/5 (44 download)

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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.

Central Bank Independence and Macro-Prudential Regulation

Author : Mr.Kenichi Ueda
Publisher : International Monetary Fund
ISBN 13 : 1475502915
Total Pages : 27 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Central Bank Independence and Macro-Prudential Regulation by : Mr.Kenichi Ueda

Download or read book Central Bank Independence and Macro-Prudential Regulation written by Mr.Kenichi Ueda and published by International Monetary Fund. This book was released on 2012-04-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider the optimality of various institutional arrangements for agencies that conduct macro-prudential regulation and monetary policy. When a central bank is in charge of price and financial stability, a new time inconsistency problem may arise. Ex-ante, the central bank chooses the socially optimal level of inflation. Ex-post, however, the central bank chooses inflation above the social optimum to reduce the real value of private debt. This inefficient outcome arises when macro-prudential policies cannot be adjusted as frequently as monetary. Importantly, this result arises even when the central bank is politically independent. We then consider the role of political pressures in the spirit of Barro and Gordon (1983). We show that if either the macro-prudential regulator or the central bank (or both) are not politically independent, separation of price and financial stability objectives does not deliver the social optimum.

Central Bank Independence, Targets, and Credibility

Author : Francesco Lippi
Publisher : Edward Elgar Publishing
ISBN 13 : 9781782542971
Total Pages : 180 pages
Book Rating : 4.5/5 (429 download)

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Book Synopsis Central Bank Independence, Targets, and Credibility by : Francesco Lippi

Download or read book Central Bank Independence, Targets, and Credibility written by Francesco Lippi and published by Edward Elgar Publishing. This book was released on 1999-01-27 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Institutions and Monetary Policy

Author : Eric Schaling
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Institutions and Monetary Policy by : Eric Schaling

Download or read book Institutions and Monetary Policy written by Eric Schaling and published by Edward Elgar Publishing. This book was released on 1995 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central bank independence is a key issue for political and monetary authorities in many countries. In this text, the author looks at the impact of different central banks on price stability and macroeconomic performance, and their optimal degree of legislative independence.

Handbook of Central Banking, Financial Regulation and Supervision

Author : S. Eijffinger
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805768
Total Pages : 673 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Handbook of Central Banking, Financial Regulation and Supervision by : S. Eijffinger

Download or read book Handbook of Central Banking, Financial Regulation and Supervision written by S. Eijffinger and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThis Handbook is a must read for policy makers and practitioners alike as well as excellent reading for advanced academic courses in international banking.Õ Ð Allard Bruinshoofd, SUERF ÔThis collection of papers is essential reading for anyone interested in central banking, regulation and supervision. Sylvester Eijffinger and Donato Masciandaro have brought together contributions from the leading academics, central bankers and regulators, providing the most up-to-date analysis of this critical subject.Õ Ð Paul Mizen, University of Nottingham, UK This stimulating and original Handbook offers an updated and systematic discussion of the relationship between central banks, financial regulation and supervision after the global financial crisis. The crisis has raised new questions about the compatibility of monetary and financial stability, which are changing the face of central banking and its relationships with the architecture of financial regulation and supervision. The Handbook explores on both the economics and political economy of the topic, in order to understand how and why reforms of the role of the central banks can be designed and implemented. The general suggestion is that future effectiveness of the central banking architecture will depend on its ability to ensure the consistency between the monetary actions in normal and extraordinary times. Consequently the possible paths in the central bank strategies and tactics, as well as in the classic concepts of independence, accountability and transparency, are analyzed and discussed. With chapters written by outstanding scholars in economics, this lucid Handbook will appeal to academics, policymakers and practitioners, ranging from central bankers and supervisory authorities to financial operators. Among the academics it would be of particular interest to financial and monetary economists (including postgraduate students), but the institutional slant and the central theme of relations between economics, institutional settings and politics will also be invaluable for political scientists.

Bankers, Bureaucrats, and Central Bank Politics

Author : Christopher Adolph
Publisher : Cambridge University Press
ISBN 13 : 110703261X
Total Pages : 389 pages
Book Rating : 4.1/5 (7 download)

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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.

Central Bank Independence and Monetary Stability

Author : Otmar Issing
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Central Bank Independence and Monetary Stability by : Otmar Issing

Download or read book Central Bank Independence and Monetary Stability written by Otmar Issing and published by . This book was released on 1993 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central bank independence is now a major issue in debates about institutional reforms designed to improve economic performance. Professor Issing's paper is notable for its scholarly discussion of the meaning of 'independence' and his analysis of its effects. Moreover, because of his position inside the Bundesbank which is among the most independent of central banks and which provides a model for the constitution of the proposed European Central Bank he writes with a degree of expertise not available to most authors. Interest in central bank independence arose from the world-wide acceleration of inflation in the 1 970s which stimulated interest in means of 'anchoring' anti-inflation policy. Germany was in advance of other countries in recognising the importance of price stability and es-tablishing an institution to produce it, making the Bundesbank independent in 1957. Professor Issing argues that when independence is coupled with a price stability objective, economic performance appears to improve. Not only is inflation lower, but there is evidence that real growth is higher. In his view, central bank independence comes 'top of the list' of institutional arrangements designed to safeguard the stability of money.

Monetary Policy in the New Normal

Author : Mr.Tamim Bayoumi
Publisher : International Monetary Fund
ISBN 13 : 1475561784
Total Pages : 49 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Monetary Policy in the New Normal by : Mr.Tamim Bayoumi

Download or read book Monetary Policy in the New Normal written by Mr.Tamim Bayoumi and published by International Monetary Fund. This book was released on 2014-04-04 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proposed SDN would take stock of the current debate on the shape that monetary policy should take after the crisis. It revisits the pros and cons of expanding the objectives of monetary policy, the merits of turning unconventional policies into conventional ones, how to make monetary policy frameworks more resilient to the risk of being constrained by the zero-lower bound going forward, and the institutional challenges to preserve central bank independence with regards to monetary policy, while allowing adequate government oversight over central banks’ new responsibilities. It will draw policy conclusions where consensus has been reached, and highlight the areas where more work is needed to get more granular policy advice.

Central Bank Independence and the Conduct of Monetary Policy in the United Kingdom

Author : Mr.Jan Kees Martijn
Publisher : International Monetary Fund
ISBN 13 : 145185840X
Total Pages : 23 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Central Bank Independence and the Conduct of Monetary Policy in the United Kingdom by : Mr.Jan Kees Martijn

Download or read book Central Bank Independence and the Conduct of Monetary Policy in the United Kingdom written by Mr.Jan Kees Martijn and published by International Monetary Fund. This book was released on 1999-12-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.K. monetary policy framework, which combines inflation targeting with operational independence, provides a suitable arrangement for focused and credible monetary policy. However, potential weaknesses could result from features that have not yet been fully tested: the credibility and transparency of the inflation forecasts, which form the core of policy decisions, have diminished as a result of independence; and the framework could encourage excessive activism and frequent changes in interest rates. Although policy coordination could also suffer from independence, the new partly rules-based fiscal and monetary regimes will promote overall macroeconomic stability.

Central Bank Independence

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1451966423
Total Pages : 59 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Central Bank Independence by : International Monetary Fund

Download or read book Central Bank Independence written by International Monetary Fund and published by International Monetary Fund. This book was released on 1991-06-01 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been growing interest recently in the scope for promoting monetary stability through the establishment of independent central banks. This paper reviews the issues involved in central bank independence against the background of arrangements in nine countries. The analysis suggests that detailed institutional arrangements would need to be carefully designed if the potential benefits of central bank independence are to be delivered. Particularly important are the nature of arrangements to resolve various types of conflicts involving monetary policy, and arrangements to promote accountability and public monitoring of monetary policy performance.

The Political Economy of Central-bank Independence

Author : Sylvester C. W. Eijffinger
Publisher : International Finance Section Department of Econ Ton Univers
ISBN 13 :
Total Pages : 100 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Political Economy of Central-bank Independence by : Sylvester C. W. Eijffinger

Download or read book The Political Economy of Central-bank Independence written by Sylvester C. W. Eijffinger and published by International Finance Section Department of Econ Ton Univers. This book was released on 1996 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Central Bank Independence

Author : Marianne Ojo D Delaney PhD
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Central Bank Independence by : Marianne Ojo D Delaney PhD

Download or read book Central Bank Independence written by Marianne Ojo D Delaney PhD and published by . This book was released on 2016 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sufficient and appropriate degree of central bank independence is widely acknowledged to be necessary for the goal of achieving price stability. However, despite the levels of independence claimed to be enjoyed by several central banks, recent events indicate shifts in focus of monetary policy objectives by various prominent central banks.The impact of political and government influences on central banks' monetary policies has been evidenced from the recent financial crisis - and in several jurisdictions. Many central banks have adjusted monetary policies having been influenced by political pressures which have built up as a result of the recent crises. However such lack of absolute independence (from political spheres) could prove symbiotic in the sense that, despite the need for a certain degree of independence from political interference, certain events which are capable of devastating consequences, namely, a drastic disruption of the system's financial stability, need to be responded to as quickly and promptly as possible. Is it possible for a central bank with absolute independence to operate effectively - particularly given the close links between many central banks and their Treasury in several countries? It may be inferred that central banks' crucial roles in establishing a macro prudential framework provide the key to bridging the gap between macro economic policy and the regulation of individual financial institutions. This however, on its own, is insufficient - close collaboration and effective information sharing between central banks and regulatory authorities is paramount.

Central Bank Independence

Author : Ignacio Mas
Publisher : World Bank Publications
ISBN 13 : 7071614172
Total Pages : 48 pages
Book Rating : 4.0/5 (716 download)

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Book Synopsis Central Bank Independence by : Ignacio Mas

Download or read book Central Bank Independence written by Ignacio Mas and published by World Bank Publications. This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Research Handbook on Central Banking

Author : Peter Conti-Brown
Publisher : Edward Elgar Publishing
ISBN 13 : 1784719226
Total Pages : 589 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Research Handbook on Central Banking by : Peter Conti-Brown

Download or read book Research Handbook on Central Banking written by Peter Conti-Brown and published by Edward Elgar Publishing. This book was released on with total page 589 pages. Available in PDF, EPUB and Kindle. Book excerpt: Central banks occupy a unique space in their national governments and in the global economy. The study of central banking however, has too often been dominated by an abstract theoretical approach that fails to grasp central banks’ institutional nuances. This comprehensive and insightful Handbook, takes a wider angle on central banks and central banking, focusing on the institutions of central banking. By 'institutions', Peter Conti-Brown and Rosa Lastra refer to the laws, traditions, norms, and rules used to structure central bank organisations. The Research Handbook on Central Banking’s institutional approach is one of the most interdisciplinary efforts to consider its topic, and includes chapters from leading and rising central bankers, economists, lawyers, legal scholars, political scientists, historians, and others.

Measuring Central Bank Independence and Its Effect on Policy Outcomes

Author : Alex Cukierman
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Measuring Central Bank Independence and Its Effect on Policy Outcomes by : Alex Cukierman

Download or read book Measuring Central Bank Independence and Its Effect on Policy Outcomes written by Alex Cukierman and published by . This book was released on 1994 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Credibility of Central Bank Independence Revisited

Author : Mr.Timo Valila
Publisher : International Monetary Fund
ISBN 13 : 1451841744
Total Pages : 17 pages
Book Rating : 4.4/5 (518 download)

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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.