Central bank accountability and independence: Are they inconsistent?
Author
Abstract
Suggested Citation
DOI: 10.1016/j.jmacro.2012.02.010
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Robert E. Lucas, Jr., 1980. "Rules, Discretion, and the Role of the Economic Advisor," NBER Chapters, in: Rational Expectations and Economic Policy, pages 199-210, National Bureau of Economic Research, Inc.
- Hetzel,Robert L., 2012. "The Great Recession," Cambridge Books, Cambridge University Press, number 9781107011885, October.
- Marvin Goodfriend, 1993.
"Interest rate policy and the inflation scare problem: 1979-1992,"
Proceedings, Board of Governors of the Federal Reserve System (U.S.).
- Marvin Goodfriend, 1993. "Interest rate policy and the inflation scare problem: 1979-1992," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 1-24.
- Gauti B. Eggertsson & Michael Woodford, 2003. "The Zero Bound on Interest Rates and Optimal Monetary Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(1), pages 139-235.
- Hetzel,Robert L., 2008. "The Monetary Policy of the Federal Reserve," Cambridge Books, Cambridge University Press, number 9780521881326, October.
- Selgin, George & Lastrapes, William D. & White, Lawrence H., 2012. "Has the Fed been a failure?," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 569-596.
- Robert L. Hetzel, 2008. "What is the monetary standard, or, how did the Volcker-Greenspan FOMCs tame inflation?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Spr), pages 147-171.
- Robert L. Hetzel, 2006. "Making the systematic part of monetary policy transparent," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 92(Sum), pages 255-290.
- Richard D. Erb, 1978. "Federal Reserve Policies and Public Disclosure," Books, American Enterprise Institute, number 917993, September.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Kevin L Kliesen, 2023.
"A Comparison of Fed "Tightening" Episodes since the 1980s,"
International Journal of Central Banking, International Journal of Central Banking, vol. 19(3), pages 423-450, August.
- Kevin L. Kliesen, 2020. "A Comparison of Fed "Tightening" Episodes since the 1980s," Working Papers 2020-003, Federal Reserve Bank of St. Louis, revised 31 Jan 2022.
- Jakub Rybacki & Dobromił Serwa, 2021.
"What Makes a Successful Scientist in a Central Bank? Evidence From the RePEc Database,"
Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 13(3), pages 331-357, September.
- Jakub Rybacki & Dobromił Serwa, 2021. "What makes a successful scientist in a central bank? Evidence from the RePEc database," KAE Working Papers 2021-065, Warsaw School of Economics, Collegium of Economic Analysis.
- Steven Ambler, 2014. "Price-Level Targeting: A Post-Mortem?," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 400, February.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Robert L. Hetzel, 2017. "What Remains of Milton Friedman's Monetarism?," Working Paper 17-9, Federal Reserve Bank of Richmond.
- Salter, Alexander W. & Smith, Daniel J., 2019. "Political economists or political economists? The role of political environments in the formation of fed policy under burns, Greenspan, and Bernanke," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 1-13.
- Robert L. Hetzel, 2008. "What is the monetary standard, or, how did the Volcker-Greenspan FOMCs tame inflation?," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Spr), pages 147-171.
- Robert L. Hetzel, 2009. "Monetary policy in the 2008-2009 recession," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 95(Spr), pages 201-233.
- Bordo, Michael D., 2012. "Could the United States have had a better central bank? An historical counterfactual speculation," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 597-607.
- George S. Tavlas, 2015.
"In Old Chicago: Simons, Friedman, and the Development of Monetary‐Policy Rules,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(1), pages 99-121, February.
- George S. Tavlas, 2014. "In old Chicago: Simons, Friedman and the development of monetary-policy rules," Working Papers 177, Bank of Greece.
- Belongia, Michael T. & Ireland, Peter N., 2015.
"A “Working” Solution To The Question Of Nominal Gdp Targeting,"
Macroeconomic Dynamics, Cambridge University Press, vol. 19(3), pages 508-534, April.
- Michael T. Belongia & Peter N. Ireland, 2012. "A "Working" Solution to the Question of Nominal GDP Targeting," Boston College Working Papers in Economics 802, Boston College Department of Economics, revised 04 Jan 2013.
- Peter J. Boettke & Alexander W. Salter & Daniel J. Smith, 2018. "Money as meta-rule: Buchanan’s constitutional economics as a foundation for monetary stability," Public Choice, Springer, vol. 176(3), pages 529-555, September.
- Christina D. Romer, 2014. "It Takes a Regime Shift: Recent Developments in Japanese Monetary Policy through the Lens of the Great Depression," NBER Macroeconomics Annual, University of Chicago Press, vol. 28(1), pages 383-400.
- Hendrickson, Joshua R., 2012. "An overhaul of Federal Reserve doctrine: Nominal income and the Great Moderation," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 304-317.
- Glenn L. Furton & Alexander William Salter, 2017. "Money and the rule of law," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 30(4), pages 517-532, December.
- Salter, Alexander William & Tarko, Vlad, 2017. "Polycentric banking and macroeconomic stability," Business and Politics, Cambridge University Press, vol. 19(2), pages 365-395, June.
- Michael T. Belongia & Peter N. Ireland, 2015.
"Interest Rates and Money in the Measurement of Monetary Policy,"
Journal of Business & Economic Statistics, Taylor & Francis Journals, vol. 33(2), pages 255-269, April.
- Michael T. Belongia & Peter N. Ireland, 2014. "Interest Rates and Money in the Measurement of Monetary Policy," NBER Working Papers 20134, National Bureau of Economic Research, Inc.
- Robert L. Hetzel, 2013. "The Monetarist-Keynesian Debate and the Phillips Curve: Lessons from the Great Inflation," Economic Quarterly, Federal Reserve Bank of Richmond, issue 2Q, pages 83-116.
- Christina D. Romer, 2013. "It Takes a Regime Shift: Recent Developments in Japanese Monetary Policy through the Lens of the Great Depression," NBER Chapters, in: NBER Macroeconomics Annual 2013, Volume 28, pages 383-400, National Bureau of Economic Research, Inc.
- Michael D. Bordo & Hugh Rockoff, 2013.
"Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960,"
American Economic Review, American Economic Association, vol. 103(3), pages 61-65, May.
- Michael D. Bordo & Hugh Rockoff, 2013. "Not Just the Great Contraction: Friedman and Schwartz's A Monetary History of the United States 1867 to 1960," NBER Working Papers 18828, National Bureau of Economic Research, Inc.
- Dumitriu, Ramona & Stefanescu, Răzvan, 2020. "Provocări pentru Finanţele Comportamentale în contextul COVID-19 [Some challenges for the Behavioral Finance in the Context of COVID-19]," MPRA Paper 99675, University Library of Munich, Germany, revised 16 Apr 2020.
- repec:fip:fedreq:y:2012:i:2q:p:77-110:n:vol.98no.2 is not listed on IDEAS
- Bredin, Don & Fountas, Stilianos, 2018.
"US inflation and inflation uncertainty over 200 years,"
Financial History Review, Cambridge University Press, vol. 25(2), pages 141-159, August.
- Don Bredin & Stilianos Fountas, 2018. "US Inflation and Inflation Uncertainty Over 200 Years," Discussion Paper Series 2018_04, Department of Economics, University of Macedonia, revised Apr 2018.
- Del Negro, Marco & Sims, Christopher A., 2015.
"When does a central bank׳s balance sheet require fiscal support?,"
Journal of Monetary Economics, Elsevier, vol. 73(C), pages 1-19.
- Christopher Sims & Marco Del Negro, 2014. "When does a central bank's balance sheet require fiscal support?," 2014 Meeting Papers 763, Society for Economic Dynamics.
- Marco Del Negro & Christopher A. Sims, 2014. "When does a central bank’s balance sheet require fiscal support?," Staff Reports 701, Federal Reserve Bank of New York.
- Belongia, Michael T. & Ireland, Peter N., 2016.
"The evolution of U.S. monetary policy: 2000–2007,"
Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 78-93.
- Michael T. Belongia & Peter N. Ireland, 2015. "The Evolution of US Monetary Policy: 2000-2007," Boston College Working Papers in Economics 882, Boston College Department of Economics.
- Michael T. Belongia & Peter N. Ireland, 2016. "The Evolution of U.S. Monetary Policy: 2000 - 2007," NBER Working Papers 22693, National Bureau of Economic Research, Inc.
More about this item
Keywords
Central bank; Monetary policy; Political economy of money; Federal Reserve System;All these keywords.
JEL classification:
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jmacro:v:34:y:2012:i:3:p:616-625. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622617 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.