haku: @journal_id 109 / yhteensä: 867
viite: 296 / 867
| Tekijä: | Eijffinger, S. C. W. Hoeberichts, M. |
| Otsikko: | The trade off between central bank independence and conservativeness |
| Lehti: | Oxford Economic Papers
1998 : JUL, VOL. 50:3, p. 397-411 |
| Asiasana: | Central banks Monetary policy European Union |
| Kieli: | eng |
| Tiivistelmä: | The paper introduces a parameter for central bank independence in a monetary policy game with a conservative central banker. It tries to explain the optimal degree of central bank conservativeness and independence by four economic and political determinants, both theoretically and empirically. There appears to be a trade-off btw. central bank independence and conservativeness. Then, by comparing the optimal degree of conservativeness and independence with the actual degree of independence, we want to identify the optimal degree of conservativeness for 12 member states of the European Union (EU). |
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