A Political Agency Theory of Central Bank Independence /
We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks to an independent agency. We apply this theory to monetary policy by extending a standard dynamic "New-Keynesian" stochastic general equilibrium model. This model gives a...
| 主要作者: | |
|---|---|
| 其他作者: | |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2003.
|
| 丛编: | IMF Working Papers; Working Paper ;
No. 2003/144 |
| 在线阅读: | Full text available on IMF |