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|c 5.00 USD
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|z 9781451865165
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Crowe, Christopher.
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|a Goal-Independent Central Banks :
|b Why Politicians Decide to Delegate /
|c Christopher Crowe.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2006.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a A motivation for central bank independence (CBI) is that policy delegation helps politicians manage diverse coalitions. This paper develops a model of coalition formation that predicts when delegation will occur. An analysis of policy preferences survey data and CBI indicators supports the predictions. Case studies, drawn from several countries' recent past and the nineteenth-century United States, provide further support. Finally, the model explains why the expected negative relationship between CBI and inflation is not empirically robust: endogenous selection biases the estimated effect towards zero. The data confirm this.
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|a Mode of access: Internet
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|a South Africa
|2 imf
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|a IMF Working Papers; Working Paper ;
|v No. 2006/256
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2006/256/001.2006.issue-256-en.xml
|z IMF e-Library
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