Central Bank Independence and Central Bank Conservatism: Theory with an Application to Iran

Kaveh Derakhshani Darabi and Ahmad Jafari Samimi
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Kaveh Derakhshani Darabi: Faculty of Humanities, Arak University

Journal of Money and Economy, 2016, vol. 11, issue 1, 15-30

Abstract: New monetary literatures widely concentrates on the importance of institutional arrangements in the effectiveness of monetary policy. The debate regarding the optimal institutional design of central banks, independence and conservatism are usually considered to be the most important ingredients for a stable and successful monetary policy. Therefore, the purpose of this

Keywords: Central Bank conservatism; Inflation averse; Loss function; Central Bank independence (search for similar items in EconPapers)
Date: 2016
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