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Central Bank Independence in Another Eleven Countries

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  • Eijffinger, S.
  • van Keulen, M.

Abstract

The rationale for the independence of central banks is the so-called 'Rules versus Discretion' debate, which is described in this article. Central bank independence is considered an effective measure against governments from manipulating policy instruments to spur short-term economic growth and employment. Several, recent indices that purport to measure central bank independence are amalgamated and applied to ten European countries, plus New Zealand. Appendices are included on the central bank laws in the eleven countries.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Eijffinger, S. & van Keulen, M., 1994. "Central Bank Independence in Another Eleven Countries," Papers 9494, Tilburg - Center for Economic Research.
  • Handle: RePEc:fth:tilbur:9494
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    1. Jakob De Haan & Jan Egbert Sturm, 1992. "The Case for Central Bank Independence," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 45(182), pages 305-327.
    2. Eijffinger, S.C.W., 1993. "Central bank independence in twelve industrial countries," Other publications TiSEM 0401b17a-e2c7-4179-ace9-a, Tilburg University, School of Economics and Management.
    3. Alberto Alesina, 1988. "Macroeconomics and Politics," NBER Chapters, in: NBER Macroeconomics Annual 1988, Volume 3, pages 13-62, National Bureau of Economic Research, Inc.
    4. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, February.
    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. Eijffinger, S.C.W. & Schaling, E., 1992. "Central bank independence : Criteria and indices," Research Memorandum FEW 548, Tilburg University, School of Economics and Management.
    7. Michele Lloyd, 1992. "The New Zealand approach to central bank autonomy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 55, Septemebe.
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    More about this item

    Keywords

    central bank ; monetary policy;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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