Independence, credibility, and communication of central banking

Abstract

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 new ones have appeared to make Independence, Credibility, and Communication of Central Banking as critical as ever—perhaps, even more so. This volume collects articles contributed by distinguished scholars to the XXIII Annual Conference of the Central Bank of Chile, which coincided with the thirtieth anniversary of its independence. The chapters in this volume give a fresh new look to old lessons, discuss the latest developments, and provide new recommendations for central banks to meet some of their biggest challenges of the times.