Does Instrument Independence Matter under the Constrained Discretionof an Inflation Targeting Goal? Lessons from UK Taylor Rule Empirics
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Sylvester C. W. Eijffinger & Marco Hoeberichts, 2002.
"Central Bank Accountability and Transparency: Theory and Some Evidence,"
International Finance, Wiley Blackwell, vol. 5(1), pages 73-96.
- Eijffinger, Sylvester C. W. & Hoeberichts, Marco, 2000. "Central Bank accountability and transparency: theory and some evidence," Discussion Paper Series 1: Economic Studies 2000,06, Deutsche Bundesbank.
- Eijffinger, S.C.W. & Hoeberichts, M.M., 2000. "Central Bank Accountability and Transparency : Theory and Some Evidence," Other publications TiSEM 5fd875e3-d23d-4566-b5ad-2, Tilburg University, School of Economics and Management.
- Carlstrom, Charles T. & Fuerst, Timothy S. & Ghironi, Fabio, 2006.
"Does it matter (for equilibrium determinacy) what price index the central bank targets?,"
Journal of Economic Theory, Elsevier, vol. 128(1), pages 214-231, May.
- Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does it matter (for equilibrium determinacy) what price index the central bank targets?," Working Papers (Old Series) 0202, Federal Reserve Bank of Cleveland.
- Charles T. Carlstrom & Timothy S. Fuerst & Fabio Ghironi, 2002. "Does It Matter (for Equilibrium Determinacy) What Price Index the Central Bank Targets?," Boston College Working Papers in Economics 533, Boston College Department of Economics, revised 07 Feb 2003.
- Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2005.
"The Optimal Degree of Discretion in Monetary Policy,"
Econometrica, Econometric Society, vol. 73(5), pages 1431-1475, September.
- Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2002. "The optimal degree of discretion in monetary policy," Working Papers 626, Federal Reserve Bank of Minneapolis.
- Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2004. "The optimal degree of discretion in monetary policy," International Finance Discussion Papers 801, Board of Governors of the Federal Reserve System (U.S.).
- Susan Athey & Andrew Atkeson & Patrick Kehoe, 2003. "The Optimal Degree of Discretion in Monetary Policy," NBER Working Papers 10109, National Bureau of Economic Research, Inc.
- Athey, Susan & Atkeson, Andrew & Kehoe, Patrick J., 2004. "The optimal degree of discretion in monetary policy," Working Paper Series 338, European Central Bank.
- Susan Athey & Andrew Atkeson & Patrick J. Kehoe, 2004. "The optimal degree of discretion in monetary policy," Staff Report 326, Federal Reserve Bank of Minneapolis.
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
- Eijffinger, S.C.W. & Schaling, E., 1995.
"Optimal commitment in an open economy : Credibility vs. flexibility,"
Discussion Paper
1995-79, Tilburg University, Center for Economic Research.
- Eijffinger, S.C.W., 1997. "Optimal commitment in an open economy : Credibility vs. flexibility," Other publications TiSEM f87d017a-7727-44bb-bf7a-5, Tilburg University, School of Economics and Management.
- Eijffinger, S.C.W. & Schaling, E., 1995. "Optimal commitment in an open economy : Credibility vs. flexibility," Other publications TiSEM d6bf01ec-595f-43ad-a0b7-9, Tilburg University, School of Economics and Management.
- Sylvester Eijffinger & Eric Schaling, 1995. "Optimal Commitment in an Open Economy: Credibility vs. Flexibility," Bank of England working papers 41, Bank of England.
- 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.
- Clive Briault & Andrew Haldane & Mervyn King, 1996. "Independence and Accountability," Bank of England working papers 49, Bank of England.
- Canzoneri, Matthew B, 1985.
"Monetary Policy Games and the Role of Private Information,"
American Economic Review, American Economic Association, vol. 75(5), pages 1056-1070, December.
- Matthew B. Canzoneri, 1983. "Monetary policy games and the role of private information," International Finance Discussion Papers 249, Board of Governors of the Federal Reserve System (U.S.).
- Barro, Robert J & Gordon, David B, 1983.
"A Positive Theory of Monetary Policy in a Natural Rate Model,"
Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
- Robert J. Barro & David B. Gordon, 1981. "A Positive Theory of Monetary Policy in a Natural-Rate Model," NBER Working Papers 0807, National Bureau of Economic Research, Inc.
- Barro, Robert J. & Gordon, David B., 1983.
"Rules, discretion and reputation in a model of monetary policy,"
Journal of Monetary Economics, Elsevier, vol. 12(1), pages 101-121.
- Robert J. Barro & David B. Gordon, 1983. "Rules, Discretion and Reputation in a Model of Monetary Policy," NBER Working Papers 1079, National Bureau of Economic Research, Inc.
- Richard Clarida & Jordi Galí & Mark Gertler, 2000.
"Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(1), pages 147-180.
- Richard Clarida & Jordi Galí & Mark Gertler, 1997. "Monetary policy rules and macroeconomic stability: Evidence and some theory," Economics Working Papers 350, Department of Economics and Business, Universitat Pompeu Fabra, revised May 1999.
- Clarida, Richard & Galí, Jordi & Gertler, Mark, 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," CEPR Discussion Papers 1908, C.E.P.R. Discussion Papers.
- Richard Clarida & Jordi Gali & Mark Gertler, 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," NBER Working Papers 6442, National Bureau of Economic Research, Inc.
- Clarida, R. & Gali, J. & Gertler, M., 1998. "Monetary Policy Rules and Macroeconomic Stability: Evidence and some Theory," Working Papers 98-01, C.V. Starr Center for Applied Economics, New York University.
- James Forder, 2000. "Central Bank Independence and Credibility: Is There a Shred of Evidence?," International Finance, Wiley Blackwell, vol. 3(1), pages 167-185, April.
- Marvin Goodfriend & Robert G. King, 1997.
"The New Neoclassical Synthesis and the Role of Monetary Policy,"
NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 231-296,
National Bureau of Economic Research, Inc.
- Marvin Goodfriend & Robert G. King, 1998. "The new neoclassical synthesis and the role of monetary policy," Working Paper 98-05, Federal Reserve Bank of Richmond.
- Calvo, Guillermo A, 1978. "On the Time Consistency of Optimal Policy in a Monetary Economy," Econometrica, Econometric Society, vol. 46(6), pages 1411-1428, November.
- Alberto Alesina, 1988. "Macroeconomics and Politics," NBER Chapters, in: NBER Macroeconomics Annual 1988, Volume 3, pages 13-62, National Bureau of Economic Research, Inc.
- Helge Berger & Jakob De Haan & Sylvester C.W. Eijffinger, 2001.
"Central Bank Independence: An Update of Theory and Evidence,"
Journal of Economic Surveys, Wiley Blackwell, vol. 15(1), pages 3-40, February.
- De Haan, Jakob & Eijffinger, Sylvester & Berger, Helge, 2000. "Central Bank Independence: An Update of Theory and Evidence," CEPR Discussion Papers 2353, C.E.P.R. Discussion Papers.
- Bevger, H. & de Haan, J. & Eijffinger, S.C.W., 2000. "Central Bank Independence : An Update of Theory and Evidence," Other publications TiSEM f4d66128-9080-4262-8e5f-4, Tilburg University, School of Economics and Management.
- Alex Cukierman, 1992.
"Central Bank Strategy, Credibility, and Independence: Theory and Evidence,"
MIT Press Books,
The MIT Press,
edition 1, volume 1, number 0262031981, December.
- Cukierman Alex, 1992. "Central Bank Strategy, Credibility, And Independance: Theory And Evidence," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 1-10, December.
- Mehtap Kesriyeli & Denise R. Osborn & Marianne Sensier, 2006.
"Nonlinearity and Structural Change in Interest Rate Reaction Functions for the US, UK and Germany,"
Contributions to Economic Analysis, in: Nonlinear Time Series Analysis of Business Cycles, pages 283-310,
Emerald Group Publishing Limited.
- Mehtap Kesriyeli & Denise R. Osborn & Marianne Sensier, 2004. "Nonlinearity and Structural Change in Interest Rate Reaction Functions for the US, UK and Germany," Working Papers 0414, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- M Kesriyeli & D R Osborn & M Sensier, 2004. "Nonlinearity and Structural Change in Interest Rate Reaction Functions for the US, UK and Germany," Centre for Growth and Business Cycle Research Discussion Paper Series 44, Economics, The University of Manchester.
- Mr. Robert Tchaidze & Ms. Alina Carare, 2005. "The Use and Abuse of Taylor Rules: How Precisely Can We Estimate Them?," IMF Working Papers 2005/148, International Monetary Fund.
- Clarida, Richard & Gali, Jordi & Gertler, Mark, 1998.
"Monetary policy rules in practice Some international evidence,"
European Economic Review, Elsevier, vol. 42(6), pages 1033-1067, June.
- Clarida, Richard & Gali, Jordi & Gertler, Mark, 1997. "Monetary Policy Rules in Practice: Some International Evidence," Working Papers 97-32, C.V. Starr Center for Applied Economics, New York University.
- Richard Clarida & Jordi Gali & Mark Gertler, 1997. "Monetary Policy Rules in Practice: Some International Evidence," NBER Working Papers 6254, National Bureau of Economic Research, Inc.
- Clarida, Richard & Galí, Jordi & Gertler, Mark, 1997. "Monetary Policy Rules in Practice: Some International Evidence," CEPR Discussion Papers 1750, C.E.P.R. Discussion Papers.
- Alesina, Alberto & Summers, Lawrence H, 1993. "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 25(2), pages 151-162, May.
- Troy Davig & Eric M. Leeper, 2007.
"Generalizing the Taylor Principle,"
American Economic Review, American Economic Association, vol. 97(3), pages 607-635, June.
- Troy Davig & Eric M. Leeper, 2005. "Generalizing the Taylor Principle," NBER Working Papers 11874, National Bureau of Economic Research, Inc.
- Troy Davig & Eric M. Leeper, 2006. "Generalizing the Taylor Principle," CAEPR Working Papers 2006-001, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
- Troy Davig & Eric M. Leeper, 2005. "Generalizing the Taylor principle," Research Working Paper RWP 05-13, Federal Reserve Bank of Kansas City.
- Robert G. King & Alexander L. Wolman, 2013.
"Inflation Targeting in a St. Louis Model of the 21st Century,"
Review, Federal Reserve Bank of St. Louis, issue Nov, pages 543-574.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Proceedings, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation targeting in a St. Louis model of the 21st century," Review, Federal Reserve Bank of St. Louis, vol. 78(May), pages 83-107.
- Robert G. King & Alexander L. Wolman, 1996. "Inflation Targeting in a St. Louis Model of the 21st Century," NBER Working Papers 5507, National Bureau of Economic Research, Inc.
- Herrendorf, Berthold, 1998. "Inflation Targeting as a Way of Precommitment," Oxford Economic Papers, Oxford University Press, vol. 50(3), pages 431-448, July.
- Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
- Ben S. Bernanke & Frederic S. Mishkin, 1997.
"Inflation Targeting: A New Framework for Monetary Policy?,"
Journal of Economic Perspectives, American Economic Association, vol. 11(2), pages 97-116, Spring.
- Ben S. Bernanke & Frederic S. Mishkin, 1997. "Inflation Targeting: A New Framework for Monetary Policy?," NBER Working Papers 5893, National Bureau of Economic Research, Inc.
- Jarkko P. Jääskelä, 2005. "Inflation, Price Level and Hybrid Rules under Inflation Uncertainty," Scandinavian Journal of Economics, Wiley Blackwell, vol. 107(1), pages 141-156, March.
- Batini, Nicoletta & Yates, Anthony, 2003.
"Hybrid Inflation and Price-Level Targeting,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(3), pages 283-300, June.
- Nicoletta Batini & Anthony Yates, 2001. "Hybrid inflation and price level targeting," Bank of England working papers 135, Bank of England.
- Gerlach-Kristen, Petra, 2003. "Interest rate reaction functions and the Taylor rule in the euro area," Working Paper Series 258, European Central Bank.
- Forder, James, 1998. "Central Bank Independence--Conceptual Clarifications and Interim Assessment," Oxford Economic Papers, Oxford University Press, vol. 50(3), pages 307-334, July.
- Guy Debelle & Stanley Fischer, 1994.
"How independent should a central bank be?,"
Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 38, pages 195-225.
- Guy Debelle & Stanley Fischer, 1994. "How independent should a central bank be?," Working Papers in Applied Economic Theory 94-05, Federal Reserve Bank of San Francisco.
- M. H. Khalil Timamy, 2005. "Debate," Review of African Political Economy, Taylor & Francis Journals, vol. 32(104-105), pages 383-393, June.
- Forder, James, 2000. "Central Bank Independence and Credibility: Is There a Shred of Evidence?: Review," International Finance, Wiley Blackwell, vol. 3(1), pages 167-185, April.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Mihailov, Alexander & Ullrich, Katrin, 2007.
"Independence and Accountability of Monetary and Fiscal Policy Committees,"
ZEW Discussion Papers
07-044, ZEW - Leibniz Centre for European Economic Research.
- Alexander Mihailov & Katrin Ullrich, 2008. "Independence and Accountability of Monetary and Fiscal Policy Committees," Economics Discussion Papers em-dp2008-72, Department of Economics, University of Reading.
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.- P Arestis & A Mihailov, 2009.
"Flexible Rules cum Constrained Discretion: A New Consensus in Monetary Policy,"
Economic Issues Journal Articles, Economic Issues, vol. 14(2), pages 27-54, September.
- Philip Arestis & Alexander Mihailov, 2007. "Flexible Rules cum Constrained Discretion: A New Consensus in Monetary Policy," Economics Discussion Papers em-dp2007-53, Department of Economics, University of Reading.
- Philip Arestis & Alexander Mihailov, 2007. "Flexible Rules cum Constrained Discretion: A New Consensus in Monetary Policy," Economic Analysis Research Group Working Papers earg-wp2007-13, Henley Business School, University of Reading.
- repec:rdg:wpaper:em-dp2007-53 is not listed on IDEAS
- Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777, December.
- Linda S. Goldberg & Michael W. Klein, 2005.
"Establishing Credibility: Evolving Perceptions of the European Central Bank,"
NBER Working Papers
11792, National Bureau of Economic Research, Inc.
- Linda S. Goldberg & Michael W. Klein, 2005. "Establishing Credibility: Evolving Perceptions of the European Central Bank," The Institute for International Integration Studies Discussion Paper Series iiisdp105, IIIS.
- Linda S. Goldberg & Michael W. Klein, 2007. "Establishing Credibility: Evolving Perceptions of the European Central Bank," The Institute for International Integration Studies Discussion Paper Series iiisdp194, IIIS.
- Linda S. Goldberg & Michael W. Klein, 2005. "Establishing credibility: evolving perceptions of the European Central Bank," Staff Reports 231, Federal Reserve Bank of New York.
- Berlemann, Michael & Hielscher, Kai, 2009. "Measuring Effective Monetary Policy Conservatism," Working Paper 89/2009, Helmut Schmidt University, Hamburg.
- Mihailov, Alexander & Ullrich, Katrin, 2007.
"Independence and Accountability of Monetary and Fiscal Policy Committees,"
ZEW Discussion Papers
07-044, ZEW - Leibniz Centre for European Economic Research.
- Alexander Mihailov & Katrin Ullrich, 2008. "Independence and Accountability of Monetary and Fiscal Policy Committees," Economics Discussion Papers em-dp2008-72, Department of Economics, University of Reading.
- Frederic S. Mishkin, 2007.
"Will Monetary Policy Become More of a Science?,"
NBER Working Papers
13566, National Bureau of Economic Research, Inc.
- Frederic S. Mishkin, 2007. "Will monetary policy become more of a science?," Finance and Economics Discussion Series 2007-44, Board of Governors of the Federal Reserve System (U.S.).
- Alexander Mihailov, 2006.
"Operational independence, inflation targeting, and UK monetary policy,"
Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 28(3), pages 395-421.
- Mihailov, Alexander, 2005. "Operational Independence, Inflation Targeting and UK Monetary Policy," Economics Discussion Papers 9982, University of Essex, Department of Economics.
- Philip Arestis & Alexander Mihailov, 2011.
"Classifying Monetary Economics: Fields And Methods From Past To Future,"
Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 769-800, September.
- Philip Arestis & Alexander Mihailov, 2008. "Classifying Monetary Economics: Fields and Methods from Past to Future," Economics Discussion Papers em-dp2008-64, Department of Economics, University of Reading.
- Cukierman, Alex, 2008.
"Central bank independence and monetary policymaking institutions -- Past, present and future,"
European Journal of Political Economy, Elsevier, vol. 24(4), pages 722-736, December.
- Alex Cukierman, 2007. "Central Bank Independence and Monetary Policymaking Institutions: Past, Present, and Future," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 54(4), pages 367-395.
- Alex Cukierman, 2006. "Central Bank Independence and Monetary Policy Making Institutions: Past, Present, and Future," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 9(1), pages 5-23, April.
- Alex Cukierman, 2006. "Central Bank Independence and Monetary Policymaking Institutions: Past, Present, and Future," Working Papers Central Bank of Chile 360, Central Bank of Chile.
- Cukierman, Alex, 2007. "Central Bank Independence and Monetary Policymaking Institutions - Past Present and Future," CEPR Discussion Papers 6441, C.E.P.R. Discussion Papers.
- Mihailov, Alexander, 2005. "Has more Independence Affected Bank of England's Reaction Function under Inflation Targeting? Lessons from Taylor Rule Empirics," Economics Discussion Papers 8894, University of Essex, Department of Economics.
- Alex Cukierman & Anton Muscatelli, 2001. "Do Central Banks have Precautionary Demands for Expansions and for Price Stability?," Working Papers 2002_4, Business School - Economics, University of Glasgow, revised Mar 2002.
- Franz R. Hahn & Peter Mooslechner, 1999. "Zur Fundierung des Designs des Europäischen Zentralbanksystems," WIFO Monatsberichte (monthly reports), WIFO, vol. 72(1), pages 49-60, January.
- Andrew Hallett & Jan Libich, 2012. "Explicit inflation targets and central bank independence: friends or foes?," Economic Change and Restructuring, Springer, vol. 45(4), pages 271-297, November.
- Masciandaro, Donato & Romelli, Davide, 2015.
"Ups and downs of central bank independence from the Great Inflation to the Great Recession: theory, institutions and empirics,"
Financial History Review, Cambridge University Press, vol. 22(3), pages 259-289, December.
- Donato Masciandaro & Davide Romelli, 2015. "Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession: Theory, Institutions and Empirics," BAFFI CAREFIN Working Papers 1503, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
- Mishkin, F.S., 1998.
"International Experiences with Different Monetary Policy Regimes,"
Papers
648, Stockholm - International Economic Studies.
- Mishkin, Frederic S., 1998. "International Experiences With Different Monetary Policy Regimes," Seminar Papers 648, Stockholm University, Institute for International Economic Studies.
- Frederic S. Mishkin, 2000. "International Experiences with Different Monetary Policy Regimes," NBER Working Papers 7044, National Bureau of Economic Research, Inc.
- Frederic S. Mishkin, 1999. "International Experiences with Different Monetary Policy Regimes," NBER Working Papers 6965, National Bureau of Economic Research, Inc.
- Paolo Surico, 2002.
"Inflation Targeting and Nonlinear Policy Rules: the Case of Asymmetric Preferences,"
Macroeconomics
0210002, University Library of Munich, Germany, revised 23 Feb 2004.
- Paolo Surico, 2004. "Inflation Targeting and Nonlinear Policy Rules: the Case of Asymmetric Preferences," Computing in Economics and Finance 2004 108, Society for Computational Economics.
- Paolo Surico, 2004. "Inflation Targeting and Nonlinear Policy Rules: the Case of Asymmetric Preferences," Econometric Society 2004 Latin American Meetings 8, Econometric Society.
- Elmar Mertens, 2016.
"Managing Beliefs about Monetary Policy under Discretion,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(4), pages 661-698, June.
- Elmar Mertens, 2008. "Managing Beliefs about Monetary Policy under Discretion?," Working Papers 08.02, Swiss National Bank, Study Center Gerzensee.
- Elmar Mertens, 2010. "Managing beliefs about monetary policy under discretion," Finance and Economics Discussion Series 2010-11, Board of Governors of the Federal Reserve System (U.S.).
- Michael Berlemann & Kai Hielscher, 2016. "Measuring Effective Monetary Policy Conservatism of Central Banks: A Dynamic Approach," Annals of Economics and Finance, Society for AEF, vol. 17(1), pages 105-132, May.
- Carl Walsh, 2015.
"Goals and Rules in Central Bank Design,"
CESifo Working Paper Series
5293, CESifo.
- Walsh, Carl E, 2015. "Goals and Rules in Central Bank Design," Santa Cruz Department of Economics, Working Paper Series qt3md9p6t5, Department of Economics, UC Santa Cruz.
- Persson, Torsten & Tabellini, Guido, 1999.
"Political economics and macroeconomic policy,"
Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 22, pages 1397-1482,
Elsevier.
- Torsten Persson & Guido Tabellini, "undated". "Political Economics and Macroeconomic Policy," Working Papers 121, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Persson, T. & Tabellini, G., 1997. "Political Economics and Macroeconomic Policy," Papers 630, Stockholm - International Economic Studies.
- Torsten Persson & Guido Tabellini, 1997. "Political Economics and Macroeconomic Policy," NBER Working Papers 6329, National Bureau of Economic Research, Inc.
- Persson, Torsten & Tabellini , Guido, 1997. "Political Economics and Macroeconomic Policy," Seminar Papers 630, Stockholm University, Institute for International Economic Studies.
- Persson, Torsten & Tabellini, Guido, 1997. "Political Economics and Macroeconomic Policy," CEPR Discussion Papers 1759, C.E.P.R. Discussion Papers.
More about this item
Keywords
asymmetry of monetary policy reaction function across the business cycle; response to output gap vs output growth; Taylor rules; operational independence; inflation targeting; United Kingdom;All these keywords.
JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2007-04-09 (Central Banking)
- NEP-MAC-2007-04-09 (Macroeconomics)
- NEP-MON-2007-04-09 (Monetary Economics)
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:mmf:mmfc06:95. 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: Christopher F. Baum (email available below). General contact details of provider: http://www.essex.ac.uk/afm/mmf/index.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.