search query: @author Walsh, C. / total: 8
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| Author: | Walsh, C. |
| Title: | Is New Zealand's reserve Bank Act of 1989 an optimal central bank contract? |
| Journal: | Journal of Money, Credit and Banking
1995 : NOV, VOL. 27:4/1, p. 1179-1191 |
| Index terms: | MONEY BANKING NEW ZEALAND |
| Language: | eng |
| Abstract: | The literature on the inflation bias that can arise under discretionary monetary policy has emphasized the value of establishing a reputation for following credible policies designed to sustain low inflation. The ability to achieve such a reputation can depend on the institutional structure that governs the conduct of monetary policy. Because of this, a great deal of interest has been generated by the Reserve Bank of New Zealand Act of 1989. This Act was designed to give New Zealand's Reserve Bank greater independence from political influence, establish a single objective for monetary policy (price stability) and ensure accountability on the part of the reserve Bank for the achievement of its policy objective. |
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