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| Author: | Shimizu, Y. |
| Title: | International policy coordination and Central Bank independence |
| Journal: | Hitotsubashi Journal of Commerce and Management
1998 : OCT, VOL. 33:1, p. 19-42 |
| Index terms: | INTERNATIONAL POLICY CENTRAL BANKS |
| Language: | eng |
| Abstract: | Central bank independence is a key concept in the worldwide trend of financial system reform. The statutory dependence, however, is not a guarantee of error-free monetary policy. This paper examines the process of policy-making of the G-7 countries in the late 1980s under the banner of international policy coordination pursued by the U.S. government. This policy by the U.S. affected the Bank of Japan's decision making which became one cause of the bubble economy in Japan in the late 80s. |
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