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Central Bank Independence (1994)

In: The Central Bank and the Financial System

Author

Listed:
  • C. A. E. Goodhart

    (London School of Economics)

Abstract

Until a few years ago, Central Banks were regarded as an integral part of the Government’s central policy-making machine. The phrase, ‘the Monetary Authorities’, was coined and used to describe the combined operations of the Central Banks and Treasury, under the political leadership of Chancellor/Treasurer and Prime Minister. The idea that a Central Bank might, or should, be independent of Central Government was simply not considered as a serious issue in most countries. Yet this is now an idea whose time has most certainly come.

Suggested Citation

  • C. A. E. Goodhart, 1995. "Central Bank Independence (1994)," Palgrave Macmillan Books, in: The Central Bank and the Financial System, chapter 4, pages 60-71, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37915-2_4
    DOI: 10.1057/9780230379152_4
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    Citations

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    Cited by:

    1. International Monetary Fund, 1999. "United Kingdom: Selected Issues," IMF Staff Country Reports 1999/044, International Monetary Fund.
    2. Clive Briault & Andrew Haldane & Mervyn A. King, 1997. "Independence and Accountability," Palgrave Macmillan Books, in: Iwao Kuroda (ed.), Towards More Effective Monetary Policy, chapter 10, pages 299-340, Palgrave Macmillan.
    3. Guy Debelle & Miguel A Savastano & Paul R Masson & Sunil Sharma, 1998. "Inflation Targeting as a Framework for Monetary Policy," IMF Economic Issues 15, International Monetary Fund.

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