Central Bank Independence--Conceptual Clarifications and Interim Assessment.
It is argued that credibility problems in macroeconomics hardly exist, and certainly do not motivate central bank independence. The Rogoff banker, and much work which follows should be interpreted as blueprints for good policy, not institutional reforms. There are likely to be significant but at pre...
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| Format: | Journal article |
| Language: | English |
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1998
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| _version_ | 1797106366332010496 |
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| author | Forder, J |
| author_facet | Forder, J |
| author_sort | Forder, J |
| collection | OXFORD |
| description | It is argued that credibility problems in macroeconomics hardly exist, and certainly do not motivate central bank independence. The Rogoff banker, and much work which follows should be interpreted as blueprints for good policy, not institutional reforms. There are likely to be significant but at present unquantified costs associated with central bank independence once the interaction of monetary and other policymakers is recognized. The evidence that central bank independence reduces inflation or brings other benefits is questioned. |
| first_indexed | 2024-03-07T07:00:35Z |
| format | Journal article |
| id | oxford-uuid:ff9c865f-7964-4b4c-873e-ec073ad51379 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T07:00:35Z |
| publishDate | 1998 |
| record_format | dspace |
| spelling | oxford-uuid:ff9c865f-7964-4b4c-873e-ec073ad513792022-03-27T13:46:13ZCentral Bank Independence--Conceptual Clarifications and Interim Assessment.Journal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:ff9c865f-7964-4b4c-873e-ec073ad51379EnglishDepartment of Economics - ePrints1998Forder, JIt is argued that credibility problems in macroeconomics hardly exist, and certainly do not motivate central bank independence. The Rogoff banker, and much work which follows should be interpreted as blueprints for good policy, not institutional reforms. There are likely to be significant but at present unquantified costs associated with central bank independence once the interaction of monetary and other policymakers is recognized. The evidence that central bank independence reduces inflation or brings other benefits is questioned. |
| spellingShingle | Forder, J Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title | Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title_full | Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title_fullStr | Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title_full_unstemmed | Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title_short | Central Bank Independence--Conceptual Clarifications and Interim Assessment. |
| title_sort | central bank independence conceptual clarifications and interim assessment |
| work_keys_str_mv | AT forderj centralbankindependenceconceptualclarificationsandinterimassessment |