Overcoming the Inflationary Bias Through Institutional Changes - Experiences of Selected OECD Central Banks
Year: 2000
Author: Schich, Sebastian, Seitz, Franz
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 120 (2000), Iss. 1 : pp. 1–24
Abstract
The paper analyses the institutional changes that have taken place during the 1990s at the central banks of major OECD countries. They have generally resulted in an increased degree of independence, transparency and accountability as well as in mandates more narrowly focused on the achieving and maintaining of price stability It is argued that recent theoretical and empirical research on the institutional aspects of monetary policy are useful in interpreting these changes. The implications for the design of the European Central Bank are discussed against the background of this research and the experiences with the recent changes at national central banks.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.120.1.1
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 120 (2000), Iss. 1 : pp. 1–24
Published online: 2000-01
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 24