Titlebook: Aspects of Central Bank Policy Making; Zvi Eckstein Conference proceedings 1991 Springer-Verlag Berlin · Heidelberg 1991 Bankpolitik.Centr

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Credibility and Consistent Central Bank Policy: An Insider Viewt from country to country, that has to be taken into account for the actual conduct of monetary policy. Clearly, not all of it is also relevant for economic analysis. The important question is where does the dividing line run between institutional detail that is relevant and that which can be ignore

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Discretion, Precommitments and the Prospects for a European Central Bank — Fixed Parities Versus a C (1989) article 52), but an effort will be made to use other adjustment mechanisms. A similar fixed parities system with separately managed currencies is envisaged for stage two as well except that in this stage exchange rate realignments would be made only under “exceptional circumstances” (Op. Cit

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Tax Smoothing and Tests of Ricardian Equivalence: Israel 1961–1988ise real interest rates. Any observed increase in nominal rates following a tax cut may be attributable to expectations of higher inflation, perhaps due to the public’s fear of unnecessarily expansionary monetary policy! More generally, the Ricardian equivalence theorem (to be denoted sometimes by R

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https://doi.org/10.1007/978-3-642-76774-6Bankpolitik; Central Bank Policy; Exchange Rate Policy; Geld; Geldpolitik; Germany; Wechselkurspolitik; Zen

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