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Institutions and Monetary Policy: Credibility, Flexibility and Central Bank Independence - Couverture rigide

Schaling, Eric

 
9781858981628: Institutions and Monetary Policy: Credibility, Flexibility and Central Bank Independence
Couverture rigide
ISBN 10 : 185898162X ISBN 13 : 9781858981628
Editeur : Edward Elgar Publishing Ltd, 1995

Synopsis

Central bank independence is a key issue for political and monetary authorities in many countries. In Institutions and Monetary Policy, Eric Schaling looks at the impact of different central banks on price stability and macroeconomic performance, and their optimal degree of legislative independence.

After introducing and surveying the rules versus discretion debate in monetary policy, Eric Schaling then investigates the relationship between domestic monetary institutions and macroeconomic performance. The author compares central bank independence in twelve industrial countries - Australia, Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, the United Kingdom, the United States, Sweden and Switzerland - and prepares an index of his results. The relationship between central bank independence, inflation and output growth is extensively discussed and a series of propositions tested for the same set of countries over the period from 1972 to 1991. Normative issues are investigated in the later part of the book including the optimal degree of central bank independence in relation to, first, the inflation rate and, second, wage formation in a totally unionized economy.

Institutions and Monetary Policy will be welcomed by scholars and policymakers concerned with the increasingly important role of institutions in monetary policy and the relation between degrees of central bank independence and political and economic outcomes.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

À propos de l'auteur

Eric Schaling, Wits Business School, University of the Witwatersrand, South Africa

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Edward Elgar Publishing Ltd
Date d'édition
1995
Langue
anglais
ISBN 10 
185898162X
ISBN 13 
9781858981628
Reliure
Relié
Nombre de pages
272
Coordonnées du fabricant
non disponible
Personne responsable
non disponible