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The Art of Central Banking and Policy Conflicts

In: Economics Of Rivalry, Conflict And Cooperation

Author

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  • Partha Gangopadhyay

    (University of Western Sydney, Australia)

Abstract

The following sections are included:IntroductionEvolution of Central BankingInescapable PitfallsInflationary bias and the conflict between rules and discretionThe trade-off between inflation and growthOn the presumed inverse relationship between central bank independence and inflationOptimal Contract and IndependenceActivism Price Stability and AccountabilityActivism and anticipatory monetary policyThe rationale for a dose of secrecy in central bankingIndependence Without Accountability: The Road to Conflicts and Central Bank “Bashing”Concluding Comments

Suggested Citation

  • Partha Gangopadhyay, 2010. "The Art of Central Banking and Policy Conflicts," World Scientific Book Chapters, in: Economics Of Rivalry, Conflict And Cooperation, chapter 9, pages 215-238, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814289917_0009
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