Central bank independence Cover Image

Central bank independence

Author(s): Florin Dumiter
Subject(s): Economy
Published by: Editura Universităţii Vasile Goldiş
Keywords: central bank independence; monetary policy; price stability; financial stability; public expectations.

Summary/Abstract: The Great Inflation of the 60s and 70s implied the existence of the inflationary bias. For solving the inflationary phenomenon, started with the 80s there has been adopted several measures: granting central bank independence for eliminate the inopportune intervention of the government and adopting monetary policy rules and inflation targets for strengthening central bank credibility. Central bank independence is a complex term, which implies institutional, operational – decisional, economic and financial aspects, and regards the relationship between central bank and other government authorities, as well as the internal and external medium restrictions in conceiving and unrolling the monetary policy programs.

  • Issue Year: 19/2009
  • Issue No: 2
  • Page Range: 368-381
  • Page Count: 14
  • Language: Romanian