Description: Institutions and Monetary Policy : Credibility, Flexibility and Central Bank Independence, Hardcover by Schaling, Eric, ISBN 185898162X, ISBN-13 9781858981628, Like New Used, Free shipping in the US 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 periods from 1972 to 1991. Normative issues are investigated in the later part of th 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.
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Book Title: Institutions and Monetary Policy : Credibility, Flexibility and C
Number of Pages: 272 Pages
Publication Name: Institutions and Monetary Policy : Credibility, Flexibility, and Central Bank Independence
Language: English
Publisher: Elgar Publishing, Incorporated, Edward
Subject: Banks & Banking, Banking, Industries / Financial Services, Money & Monetary Policy
Publication Year: 1995
Item Height: 0.9 in
Type: Textbook
Item Weight: 18.8 Oz
Subject Area: Law, Business & Economics
Item Length: 9.4 in
Author: Eric Schaling
Item Width: 6.4 in
Format: Hardcover
