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Central bank independence and inflation performance: panacea or placebo?

Article Abstract:

The degree of central bank independence is said to determine cross-country inflation differences. However, several factors have been raised that cast doubts on such a relationship. First, the link between independence and inflation may not be as tight as previously declared. Also, predictive validity tests show that the link does not score favorably. Relevant variables also appear to have been omitted in using central bank independence as the determinant of cross-country inflation differences. The structure of the labor market, the regulatory burden of the central bank and the exchange rate regime were found to be significant determinants as well.

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

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Structural biases in prudential regulation of banks

Article Abstract:

This paper analyses and distinguishes between banking regulations in Europe under the Basle Accord and the United States under the deposit insurance scheme backed by the U.S. Treasury.

Europe, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Financial Regulatn NEC, Statistical Data Included, United States, Financial services, Commercial law, Banking law, Deposit insurance

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