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Independence, credibility, and communication of central banking
The three topics covered in the title of this volume have proved to be critical in the remarkable success of modern central banks around the globe in the fight to control inflation and smooth macroeconomic fluctuations. Despite these achievements, some old challenges have come back in recent years and ...
Independence, credibility, and communication of central banking: an overview
The institution of central-bank independence is often lauded as a great conquest of the accumulation of knowledge and the sensible
setting of policy. The economic literature is filled with arguments for why an independent central bank would lead to better outcomes.
To this prior, the experience of ...