Independent central banks: low inflation at no cost?

Article Abstract:

Politically independent central banks have been traditionally projected as purveyors of low and stable interest rates. However, conflicts arise over the need for consumers to face market instability as a tradeoff. Independent and inflation-averse central banks are expected to minimize average inflation but with accompanying output increases, while a conservative view trades off less inflation bias with more instability. Extended studies in Organization for Economic Cooperation and Development countries showed that such banks generate low inflation at no real cost.

Research, Inflation (Finance), Central banks, Inflation (Economics)

---

Bureaucrats or politicians? Part I: a single policy task

Article Abstract:

Policy or task delegation to an elected politician vis-a-vis an independent bureaucrat is assessed in a normative perspective, as grounded on accountability and competence.

Public affairs, Social aspects, Methods, Politicians, Powers and duties, Public employees, Delegated legislation, Civil servants

---

International unions

Article Abstract:

A model of an international union where member countries adopt a centralized policy for distributing public goods is presented.

Government expenditures, Administration of General Economic Programs, Goods & services distribution, Channels of Distribution, Economic & Political Union, Economic aspects, Economic policy, Distribution, Public goods, Company distribution practices, Economic unions, Government centralization

Similar abstracts:

• Abstracts: The organisation of capabilities. Learning to play Cournot duopoly strategies. Production in advance versus production to order
• Abstracts: Money is stock. Anticipated inflation and rates of return in a search-theoretic monetary model. Risk-based pricing of interest rates for consumer loans
• Abstracts: How and why transition made income inequality increase in urban Russia: a local study. The anatomy of rising earnings inequality in urban China
• Abstracts: Quality Competition and Social Welfare in Markets with Partial Coverage: New Results. Agency Cost of Debt and Credit Market Imperfections: A Bargaining Approach
• Abstracts: Lessons from the debt-deflation theory of sudden stops. The evolution of a global climate change agreement. Tax-motivated trading by individual investors

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.