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Cambridge Journal of Economics
On the Impossibility of Central Bank Independence: Four Decades of Time-(and Intellectual) Inconsistency2018 •
The intellectual justification for modern central banking, time-inconsistency, celebrates its 40 th anniversary in 2017 alongside the Cambridge Journal of Economics. However, the key progeny of the time-inconsistency literature, central bank independence, has fundamental flaws that have been thus far neglected in mainstream research. In the first instance, the argument for independence relies on a utilitarian rather than institutional analysis, one that neglects the genesis of central banks and their relation to other institutions within a country. Secondly, central bank independence neglects the complex interdependencies of the global monetary and financial system. Applying an institutional lens to the concept of central bank independence, I conclude that " independence " fails under the reality of globalization as much as it does in a domestic context. With central banks reliant on all manner of political institutions, they are never really independent operationally or in terms of policy.
Scottish Journal of Political Economy
CENTRAL BANKS‘ INDEPENDENCE: INSTITUTIONAL DETERMINANTS, RANKINGS and CENTRAL BANKERS’ VIEWS1994 •
European Business Journal
Central bank independence: cases, measurement and future developments2003 •
The independence of central banks has become a focus of debate among contemporary policymakers. The importance of this issue has been strengthened by the requirements of the Maastricht Treaty which requires the European Monetary Union states to comply with the legislation of the European Central Bank, which is widely acknowledged to be a highly independent central bank. This paper traces the roots of central bank independence in the historical development of four major central banks. The focus of this study is the evolution of the relationship between the four banks studied and their central government. The banks covered in this study are: the Bank of England, the Banque de France, the Bundesbank and the Federal Reserve. Similarities in the central banks’ development have been captured and comparisons drawn. The emerging increase in the banks’ independence appears to be a part of their evolution, whereas for other countries, one may argue that it has been an exogenously driven phenomenon.
2007 •
In this Essay, written for the Fifty Years of European Union (“EU”) Law Conference organized by Fordham Law School, I intend to sketch the independent position of the European Central Bank (“ECB”) in the context of economic policy making within the European Union. I will briefly describe the law and the practice in respect of independence and economic-policy making, both the internal (domestic policies) and the external aspects (international policies). The law is stated as of February 25, 2008.
SSRN Electronic Journal
A Post Keynesian Perspective on the Rise of Central Bank Independence: A Dubious Success Story in Monetary Economics2000 •
Public Choice
Reconsidering the principal components of central bank independence: The more the merrier?1998 •
Libertad, Libertad, Libertad
Libertad, Libertad, Libertad - Diego Giacomini y Javier MileiJurnal Pendidikan dan Teknologi Indonesia
Analisis Penggunaan Video sebagai Media Pembelajaran Terpadu terhadap Motivasi Belajar SiswaCuadernos de Historia de España
El Cid: narrativas y sociedades entre Historia y Literatura2023 •
Political Theology
Review of Paula Fredriksen's "Paul. The pagans’ apostle"2019 •
Journal of Experimental Social Psychology
Threat causes liberals to think like conservatives2009 •
Kościół – Wschód – Solidarność. Studia, materiały i eseje dedykowane doktorowi Andrzejowi Grajewskiemu na jubileusz siedemdziesiątych urodzin, red. Ł. Kamiński, W. Kucharski
„Kościół kontra Państwo” - raport ambasady USA w Warszawie z 16 stycznia 1948 roku na temat sytuacji Kościoła katolickiego w Polsce2023 •
PubMed
Metabolic syndrome as an independent risk factor of hypoxaemia in influenza A (H1N1) 2009 pandemic2016 •
2021 •
2015 •
Critical Care Medicine
Drotrecogin alfa (activated) treatment in severe sepsis from the global open-label trial ENHANCE: Further evidence for survival and safety and implications for early treatment*2005 •
2095 •
International Journal of Gynecology & Obstetrics
Botulinum toxin: A potential alternative to current treatment of neurogenic and idiopathic urinary incontinence due to detrusor overactivity2006 •
Journal of Geochemical Exploration
Bias in the analysis of geological materials for gold using current methods, by G.E.M. Hall et al1992 •