Making the central bank an agency with the mandate and reputation for maintaining price
stability is a means by which a government can choose the strength of its commitment to …

This book provides an extensive and comparative account of all welfare reforms that
occurred during the last three decades in Continental European countries. It reveals …

In recent years, academics and policymakers have shown increasing interest in the
independence of central banks with respect to the formulation of monetary policy. In the …

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What are the implications of the trend toward granting central bank independence for
partisan theories of the macroeconomy? The conventional view is that parties of the Left and …

N RECENT YEARS MANY countries have adopted or made progress toward adopting
legislative proposals removing their central banks from government control, that is, making …

We provide a multidimensional characterization of monetary policy frameworks across three
pillars: Independence and Accountability, Policy and Operational Strategy, and …

My fiscal dominance hypothesis of central bank independence posits that the size of the
government's deficit and the methods by which it is financed determine central bank …

This paper investigates whether the adoption of inflation targeting (IT), by strengthening
central bank independence and maintaining inflation at low levels, has encouraged the …

Many of today's new democracies are constrained by institutional forms designed by
previous authoritarian rulers. In this timely and provocative study, Delia M. Boylan traces the …