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Declarations Are Not Enough: Financial Sector Sources of Central Bank Independence

In: NBER Macroeconomics Annual 1995, Volume 10

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  • Adam S. Posen

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  • Adam S. Posen, 1995. "Declarations Are Not Enough: Financial Sector Sources of Central Bank Independence," NBER Chapters, in: NBER Macroeconomics Annual 1995, Volume 10, pages 253-274, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:11021
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    References listed on IDEAS

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    1. Lohmann, Susanne, 1992. "Optimal Commitment in Monetary Policy: Credibility versus Flexibility," American Economic Review, American Economic Association, vol. 82(1), pages 273-286, March.
    2. Barro, Robert J. & Gordon, David B., 1983. "Rules, discretion and reputation in a model of monetary policy," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
    3. Goodhart, Charles A E, 1994. "Game Theory for Central Bankers: A Report to the Governor of the Bank of England," Journal of Economic Literature, American Economic Association, vol. 32(1), pages 101-114, March.
    4. Stanley Fischer, 1982. "Adapting to Inflation in the United States Economy," NBER Chapters, in: Inflation: Causes and Effects, pages 169-188, National Bureau of Economic Research, Inc.
    5. Alesina, Alberto & Summers, Lawrence H, 1993. "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(2), pages 151-162, May.
    6. McCallum, Bennett T, 1995. "Two Fallacies Concerning Central-Bank Independence," American Economic Review, American Economic Association, vol. 85(2), pages 207-211, May.
    7. C.L. Schultze, 1982. "The United States Economy," Economic Papers, The Economic Society of Australia, vol. 1(2), pages 72-84, September.
    8. Guy Debelle & Stanley Fischer, 1994. "How independent should a central bank be?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 195-225.
    9. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, April.
    10. Cukierman Alex, 1992. "CENTRAL BANK STRATEGY, CREDIBILITY, AND INDEPENDANCE: THEORY AND EVIDENCE: Compte Rendu par Dominique Cariofillo," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 581-590, December.
    11. G. J. Santoni, 1986. "The effects of inflation on commercial banks," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 15-26.
    12. Carl E. Walsh, 1994. "Central bank independence and the costs of disinflation in the EC," Working Papers in Applied Economic Theory 94-04, Federal Reserve Bank of San Francisco.
    13. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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