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Jena Economic Research Papers, MPI für Ökonomik >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/25640
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| DC Field | | Value | | Language |
| dc.contributor.author | | Freytag, Andreas | | en_US |
| dc.contributor.author | | Schneider, Friedrich G. | | en_US |
| dc.date.accessioned | | 2007-10-23 | | en_US |
| dc.date.accessioned | | 2009-07-27T09:39:35Z | | - |
| dc.date.available | | 2009-07-27T09:39:35Z | | - |
| dc.date.issued | | 2007 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/25640 | | - |
| dc.description.abstract | | Central bank independence (CBI) is a very important precondition for price stability. However, the empirical evidence for a correlation between both is relatively weak. In this paper, this weakness is countered with a) an extended measure of monetary commitment, which includes well-known criteria for CBI and external criteria such as convertibility and exchange rate regimes and b) the argument that monetary commitment can grant price stability best if it is backed by an adequate assignment of economic policy. An empirical assessment with data from four decades confirms the crucial role of monetary commitment for price stability. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Universität Jena und Max-Planck-Institut für Ökonomik Jena | | en_US |
| dc.relation.ispartofseries | | Jena economic research papers 2007,002 | | en_US |
| dc.subject.jel | | E50 | | en_US |
| dc.subject.keyword | | central bank independence | | en_US |
| dc.subject.keyword | | price stability | | en_US |
| dc.subject.keyword | | monetary commitment | | en_US |
| dc.subject.stw | | Preisniveaustabilität | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Regelgebundene Politik | | en_US |
| dc.subject.stw | | Zentralbankautonomie | | en_US |
| dc.subject.stw | | Inflation | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | OECD-Staaten | | en_US |
| dc.title | | Monetary commitment, institutional constraints and inflation: empirical evidence for OECD countries since the 1970s | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 547198434 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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