E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T10:00:03+00:00The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence
https://www.bankofcanada.ca/2022/03/staff-working-paper-2022-11/
Central banks in many advanced economies enjoy a high degree of independence, which protects monetary policy decisions from political influence. But how should independent central banks react if pressured by fiscal policy-makers? We examine whether a central bank should design a monetary policy framework that prescribes acting conditionally on how fiscal policy behaves.2022-03-04T11:26:44+00:00enThe Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence2022-03-04CredibilityFiscal policyMonetary policyStaff Working Paper 2022-11https://www.bankofcanada.ca/wp-content/uploads/2022/03/swp2022-11.pdfThe Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal InfluenceAntoine CamousDmitry MatveevMarch 2022EE0E02E5E52E58E6E61E62