Checks and Balances, Private Information, and the Credibility of Monetary Commitments

The authors develop and test several new hypotheses about the anti-inflationary effect of central bank independence and exchange rate pegs in the context of different institutions and different degrees of citizen information about government polici...

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Bibliographic Details
Main Authors:	Keefer, Philip, Stasavage, David
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2013
Subjects:	CENTRAL BANK CENTRAL BANK INDEPENDENCE CENTRAL BANKS COMPETITION POLICY CPI CURRENCY BOARD DECISION MAKING DEMOCRATIC INSTITUTIONS DEVALUATION DEVELOPING COUNTRIES DISCOUNT RATE DOMESTIC INFLATION DOMESTIC PRICES ECONOMIC ASSUMPTIONS ECONOMIC CIRCUMSTANCES ECONOMIC GROWTH ECONOMIC POLICIES ECONOMICS EQUILIBRIUM EXCHANGE RATE EXCHANGE RATE PEG EXOGENOUS SHOCKS EXPORTS FINANCE MINISTRY FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FIXED EXCHANGE RATE FIXED EXCHANGE RATES FORECASTS FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN INFLATION HIGH INFLATION IMPORTS INFLATION RATE INSTITUTIONAL ARRANGEMENTS INSTITUTIONAL CONTEXT INSTITUTIONAL SETTING LEGISLATION LONG TERM MACROECONOMIC POLICY MONETARY FINANCING MONETARY INSTITUTIONS MONETARY POLICIES MONETARY POLICY MONEY DEMAND MONEY MULTIPLIER MONEY SUPPLY NATIONAL INCOME NOMINAL EXCHANGE RATE NON-OECD COUNTRIES POLICY CREDIBILITY POLICY DECISIONS POLICY MAKERS POLICY OUTCOMES POLICY REFORM POLICY RESEARCH POLICY TARGETS PRICE INCREASES PRIVATE INFORMATION PRIVATE SECTOR RATE OF INFLATION REDUCING INFLATION SIGNALING STANDARD DEVIATION TERMS OF TRADE TRADEOFFS WELFARE FUNCTION CHECKS & BALANCES CENTRAL BANK ROLES EXCHANGE RATES GOVERNMENT POLICY PUBLIC INFORMATION CROSS COUNTRY ANALYSIS INFLATION RATES INFLATIONARY PRESSURES ECONOMIC SHOCKS
Online Access:	http://documents.worldbank.org/curated/en/2001/02/1000495/checks-balances-private-information-credibility-monetary-commitments http://hdl.handle.net/10986/15746

Internet

http://documents.worldbank.org/curated/en/2001/02/1000495/checks-balances-private-information-credibility-monetary-commitments
http://hdl.handle.net/10986/15746

Checks and Balances, Private Information, and the Credibility of Monetary Commitments

Internet

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