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Institutional and Sectoral Interactions in Monetary Policy and Wage/Price‐Bargaining

Robert J. Franzese

in Varieties of Capitalism: The Institutional Foundations of Comparative Advantage

Published in print:
2001
Published Online:
November 2003
ISBN:
9780199247752
eISBN:
9780191596346
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199247757.003.0003
Subject:
Economics and Finance, Economic Systems

Considers institutional complementarities at the macroeconomic level. It examines unemployment and inflation management in developed democracies, stressing the interactions of central‐bank ... More


Choosing Independence

Juliet Johnson

in Priests of Prosperity: How Central Bankers Transformed the Postcommunist World

Published in print:
2016
Published Online:
August 2016
ISBN:
9781501700224
eISBN:
9781501703751
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501700224.003.0003
Subject:
Political Science, Political Economy

This chapter focuses on postcommunist governments' initial choice to adopt legislation granting independence to their central banks, examining both the universal acceptance of such legislation and ... More


Paradise Lost

Juliet Johnson

in Priests of Prosperity: How Central Bankers Transformed the Postcommunist World

Published in print:
2016
Published Online:
August 2016
ISBN:
9781501700224
eISBN:
9781501703751
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501700224.003.0007
Subject:
Political Science, Political Economy

This chapter views the entire transplantation experience through the lens of the global financial crisis, which fundamentally challenged the central banking model that the transnational community had ... More


Does Central Bank Independence in Arab Oil Exporters Matter?

Hoda Selim

in Institutions and Macroeconomic Policies in Resource-Rich Arab Economies

Published in print:
2019
Published Online:
July 2019
ISBN:
9780198822226
eISBN:
9780191861208
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198822226.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter shows that central banks in Arab oil exporters are not independent. Low independence reflects institutional arrangements that allow the executive branch to influence, interfere, even ... More


Deeds and Doctrines of the Central Bankers

Louçã Francisco and Ash Michael

in Shadow Networks: Financial Disorder and the System that Caused Crisis

Published in print:
2018
Published Online:
October 2018
ISBN:
9780198828211
eISBN:
9780191866883
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198828211.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics, Financial Economics

Chapter 6 locates historically the doctrine and practice of central bank independence. It uses the illustrious career of Alan Greenspan, former Chair of the US Federal Reserve to introduce a history ... More


Monetary Policy

Christopher Tsoukis

in Theory of Macroeconomic Policy

Published in print:
2020
Published Online:
November 2020
ISBN:
9780198825371
eISBN:
9780191912498
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198825371.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses monetary policy. It is informally divided in two parts: The former discusses the rationale for and the main features of the current institutional ‘architecture’ related to ... More


‘There Is No Alternative’: Margaret Thatcher and Tony Blair

Iain McLean

in Rational Choice and British Politics: An Analysis of Rhetoric and Manipulation from Peel to Blair

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198295297
eISBN:
9780191599873
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198295294.003.0008
Subject:
Political Science, UK Politics

A case study of the rhetoric and heresthetics of Margaret Thatcher, Tony Blair, and Gordon Brown. It examines Thatcher's slogans: the free economy, where she succeeded, and the strong state, where ... More


Kenya: ‘Dubai’ in the Savannah

Radha Upadhyaya

in The Political Economy of Bank Regulation in Developing Countries: Risk and Reputation

Published in print:
2020
Published Online:
May 2020
ISBN:
9780198841999
eISBN:
9780191878046
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198841999.003.0009
Subject:
Political Science, Political Economy

In Kenya the impetus for Basel implementation has come from the regulator, the Central Bank of Kenya (CBK), which is highly independent, has strong links to international policy networks, and is very ... More


Central Banking before 1800: A Rehabilitation

Ulrich Bindseil

Published in print:
2019
Published Online:
July 2020
ISBN:
9780198849995
eISBN:
9780191884429
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198849995.001.0001
Subject:
Economics and Finance, Economic History

During the 20th century, a view established itself, according to which (a) defining central banking would be difficult, (b) the Sveriges Riksbank (established in 1668) and the Bank of England ... More


Introduction and Overview

Ulrich Bindseil

in Central Banking before 1800: A Rehabilitation

Published in print:
2019
Published Online:
July 2020
ISBN:
9780198849995
eISBN:
9780191884429
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198849995.003.0001
Subject:
Economics and Finance, Economic History

The Introduction describes the main themes and objectives of the book and provides an overview of its content. First, the current dominant view on the origins of central banking is recalled and ... More


The BOJ Worldview and its Historical Development

Gene Park, Saori N. Katada, Giacomo Chiozza, and Yoshiko Kojo

in Taming Japan's Deflation: The Debate over Unconventional Monetary Policy

Published in print:
2018
Published Online:
May 2019
ISBN:
9781501728174
eISBN:
9781501728181
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501728174.003.0004
Subject:
Political Science, Political Economy

This chapter looks at the evolution of specific ideas about monetary policy within the Bank of Japan (BOJ) organization, including the formative experiences that shaped the worldview of the BOJ. The ... More


Fiscal Integration by Default

Waltraud Schelkle

in Beyond the Regulatory Polity?: The European Integration of Core State Powers

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199662821
eISBN:
9780191756016
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199662821.003.0006
Subject:
Political Science, Comparative Politics

Since late 2009, the EU has made decisive steps towards the creation of fiscal capacity through the monetary backdoor. Paradoxically, it was the attempt by member states to prevent further fiscal ... More


How Ordo-Liberal Is Germany? Ordo-Liberalism in Post-War National Unifying Mythology

Kenneth Dyson

in Conservative Liberalism, Ordo-liberalism, and the State: Discipling Democracy and the Market

Published in print:
2021
Published Online:
November 2020
ISBN:
9780198854289
eISBN:
9780191888571
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198854289.003.0012
Subject:
Political Science, Political Economy, Political Theory

This chapter examines the myth and reality of Ordo-liberal intellectual capture of Germany and the role of Ordo-liberalism in efforts to construct a new post-war national unifying myth. It focuses on ... More


Foreign Exchange Market Intervention: 1991–2011

Shinji Takagi

in Conquering the Fear of Freedom: Japanese Exchange Rate Policy since 1945

Published in print:
2015
Published Online:
May 2015
ISBN:
9780198714651
eISBN:
9780191782893
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198714651.003.0006
Subject:
Economics and Finance, Financial Economics, Macro- and Monetary Economics

Chapter 6 reviews Japan’s official foreign exchange market intervention, which became virtually the only standard tool of managing the exchange rate. After presenting an overview of the institutional ... More


Remarks on the Future of Monetary Policy

Gill Marcus

in Progress and Confusion: The State of Macroeconomic Policy

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034623
eISBN:
9780262333450
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034623.003.0016
Subject:
Economics and Finance, Public and Welfare

The chapter discusses issues related to the future of monetary policy. It argues that the crisis forced central banks to take extraordinary actions and an ever-expanding mandate, which raises ... More


Lessons from the Evolution of US Monetary and Intervention Policies

Michael D. Bordo, Owen F. Humpage, and Anna J. Schwartz

in Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century

Published in print:
2015
Published Online:
September 2015
ISBN:
9780226051482
eISBN:
9780226051512
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226051512.003.0007
Subject:
Economics and Finance, Macro- and Monetary Economics

In this chapter, we summarize the main arguments of the book and draw lessons for future policy makers. Using the fundamental trilemma of international finance as its organizing principle, the ... More


Taming Japan's Deflation: The Debate over Unconventional Monetary Policy

Gene Park, Saori N. Katada, Giacomo Chiozza, and Yoshiko Kojo

Published in print:
2018
Published Online:
May 2019
ISBN:
9781501728174
eISBN:
9781501728181
Item type:
book
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9781501728174.001.0001
Subject:
Political Science, Political Economy

Bolder economic policy could have addressed the persistent bouts of deflation in post-bubble Japan, claims this book. Despite warnings from economists, intense political pressure, and unconventional ... More


The Great Moderation and Israel’s Disinflation

Assaf Razin

in Israel and the World Economy: The Power of Globalization

Published in print:
2018
Published Online:
September 2018
ISBN:
9780262037341
eISBN:
9780262344234
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262037341.003.0004
Subject:
Political Science, Political Economy

Big drivers of domestic inflation, as they formulated in the Phillips Curve, are: (1) The price of imports and the exchange rate; (2) capacity pressures and labor market tightness in the domestic ... More


The Mirage of Safety

Eswar S. Prasad

in Gaining Currency: The Rise of the Renminbi

Published in print:
2016
Published Online:
October 2016
ISBN:
9780190631055
eISBN:
9780190631086
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780190631055.003.0007
Subject:
Economics and Finance, International

This chapter draws a distinction between a reserve currency and a safe haven currency, one that investors turn to for safety during times of financial turmoil. The chapter identifies the ... More


Macroeconomic Stabilization

Marek Dabrowski

in The Handbook of Political, Social, and Economic Transformation

Published in print:
2019
Published Online:
March 2019
ISBN:
9780198829911
eISBN:
9780191868368
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198829911.003.0059
Subject:
Political Science, Comparative Politics

The aim of macroeconomic stabilization is restoring price stability and reducing monetary, fiscal, and balance-of-payment imbalances. Macroeconomic stabilization is particularly needed when a country ... More


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