Central bank independence has recently re-emerged as a major concern within political economy discussions. This column shows that improvements in central bank independence yield long-lasting benefits, with a significantly greater impact on inflation in the long run compared to the short run. Additionally, it shows that central bank independence reduces inflation persistence, thereby enhancing the effectiveness of monetary policy. Finally, and in contrast to much of the existing literature, it finds that the long-term effects of central bank independence on inflation are more pronounced in developing countries.

This paper focuses on an early unique experiment of managed float of State-issued money, implemented in Venice between 1619 and 1666. Building on a ne…

If U.S. President Donald Trump's public attacks on Federal Reserve Chair Jerome Powell have achieved one thing, it has been to thrust the issue of central bank independence firmly into the spotlight. But this raises the question, what does 'independence' really mean?

When are women appointed to the board of central banks? While progressive societal gender norms may facilitate women's ascension to leadership positions, recent research indicates that women are mo...

Presented by Gail Conway

Un tiers des discours des banques centrales aborde désormais le thème du changement climatique. Comment ces institutions, traditionnellement focalisées sur l’inflation, en sont-elles arrivées là ?

This paper proposes a conceptual framework to investigate the effects of central bank independence, of the degree of centralization of wage bargaining…

Central bank independence is being challenged in parts of the world and greater political influence could undermined banks' ability to keep inflation down, risking economic volatility, European Central Bank President Christine Lagarde said on Monday.

Central bank independence has recently re-emerged as a major concern within political economy discussions. This column shows that improvements in central bank independence yield long-lasting benefits, with a significantly greater impact on inflation in the long run compared to the short run. Additionally, it shows that central bank independence reduces inflation persistence, thereby enhancing the effectiveness of monetary policy. Finally, and in contrast to much of the existing literature, it finds that the long-term effects of central bank independence on inflation are more pronounced in developing countries.

Technocracy has come to be increasingly regarded as a threat to representative democracy. Significant attention has thus been recently devoted to exploring public preferences towards technocratic ins....

Technocracy has come to be increasingly regarded as a threat to representative democracy. Significant attention has thus been recently devoted to exploring public preferences towards technocratic ins....

Information on monetary dialogue between ECON and the European Central Bank (ECB). Links to documents.

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...

This paper addresses how central banks have become leaders in shaping the public conversation around climate change issues and the implications of their prominence in the debate.

The Bank of Finland builds financial stability. A stable price level, safe payment systems and a reliable financial system promote sustainable economic growth, employment and the well-being of Finns.