Reflections on 40 years of conservativeness: an introduction to the book

Etienne Farvaque and Piotr Stanek

A chapter in Are Central Banks Still Conservative?, 2025, pp 1-9 from Edward Elgar Publishing

Abstract: This introductory chapter presents the aim and structure of the book Are Central Banks Still Conservative? Frameworks, Monetary Policy and Inflation after Rogoff. It situates the book within the broader literature on central bank conservativeness, originating in Kenneth Rogoff's model of the conservative central banker, and outlines its historical, theoretical, and empirical significance. The chapter highlights the key themes addressed in the contributions, including central bank independence, political cycles, credibility and communication, fiscal dominance, and the evolving role of unconventional monetary policies. It also emphasizes the comparative perspectives drawing on different analytical approaches, spanning advanced, emerging, and transitional economies. By providing a roadmap of the book, the chapter frames the debates on the resilience, adaptability, and future of central bank conservativeness in a changing global context.

Keywords: Central bank conservativeness; Central bank independence; Monetary policy; Monetary policy credibility; Central bank reforms (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035337569
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