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Author Arnone, Marco, author

Title The measurement of central bank autonomy : survey of models, indicators, and empirical evidence / Marco Arnone, Bernard J. Laurens, and Jean-François Segalotto
Published [Washington D.C.] : International Monetary Fund, Monetary and Capital Markets Dept., [2006]
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Description 1 online resource (85 pages) : illustrations
Series IMF working paper ; WP/06/227
IMF working paper ; WP/06/227
Summary This paper presents a survey of the literature on the measurement of central bank autonomy. We distinguish inputs that constitute the building blocks in the literature, and the literature that builds on them. Issues including sensitivity analysis, robustness, and endogeneity are discussed. The review shows that empirical evidence regarding the beneficial effects of central bank autonomy is substantial, although some technical issues still remain for further research. In particular, central bank autonomy raises the issue of subjecting the monetary authorities to democratic control; this calls for additional research on the linkages between central bank autonomy and accountability and transparency. Additional empirical analysis on the relationship between the financial strength of the central bank and its de facto autonomy, and between its autonomy and financial stability, would also be desirable
Bibliography Includes bibliographical references (pages 79-85)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Banks and banking, Central -- Management -- Econometric models.
Monetary policy -- Econometric models.
Form Electronic book
Author Laurens, Bernard, author
Segalotto, Jean-François, author
International Monetary Fund. Monetary and Capital Markets Department.
ISBN 128351351X