Monetary policies of developed countries: co-ordination, coercion or independence?

Article Abstract:

US monetary policy affected monetary policies of other developed countries under fixed exchange rate systems, but exhibited minimal support for flexible systems. The influence of German monetary policy over other European policies under fixed rates also defined variations for such systems in the EC. Since such influences have been observed in reverse order for both rate systems, US dominance in monetary policy formation during the Bretton Woods system was absent.

Economic aspects, Prices and rates, Economic policy, Foreign exchange, Foreign exchange rates, Industrialized countries, Industrial nations, Bretton Woods Conference, 1944

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Do temporal causality tests provide information on policy dominance?

Article Abstract:

Temporal causality tests proved to be helpful in analyzing the existence of policy dominance between the US and developing countries during the Bretton Woods System. Utilization of Granger causality revealed that the US monetary policy failed to dominate several third world countries during the Bretton Woods System. The US implemented actions other than weakening the international financial system when developing countries did not abide with rules of conformity.

Administration of General Economic Programs, Currency Stabilization Programs, Models, Evaluation, Currency stabilization, Causation, Causation (Philosophy)

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Monetary policy delegation, contract costs and contract targets

Article Abstract:

The authors look at Walsh (1995) and point out that central bank contracts can be more or less inflationary unless the contract is written in output terms.

Science & research, Central banks, Powers and duties, Delegation of powers, Government purchasing

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