Abstract. The studydeals with determining the status of central banks and their formal independence in context index approach. authors argue that there is an inverse relationship between inflation level banks. It turned out expansion powers bank based on GMT-index shows a lower independence. conducted quantitative study elements peculiarities formulating bank's mandate, procedures for agreeing ...

Determining how monetary policy makers react to changes in key economic variables has been of major interest to monetary economists. Estimates of monetary policy rules (reaction functions) are a widely used method for doing this. Behavior differs under different policy regimes, as in rule-based systems or chronic inflation. In practice, estimates of instrument rules have been used to descri...

The exchange rate regime in Iran is practically fixed. The Central Bank of Iran (CBI) has committed itself to trying to bring about a particular exchange rate regime to meet two important targets: 1. Sustaining competitiveness of the economy, 2. Acquiring the share of foreign reserves in monetary base in a predetermined level. Since 2001 the share of foreign reserves in monetary base has i...

Abstract: This chapter reviews recent work on political-economic management of monetary policy under varying institutional organization of labor/goods markets and varying degrees of credible conservatism in monetary policy. The emerging literature synthesizes and extends theoretical and empirical insights of previous work on central bank independence (CBI) and coordinated wage/price bargaining ...

extended distribution of digicash has commercial, socio-economic as well as political effects. from the economic viewpoint, the most crucial effect of digicash use extension takes place on money supply, monetary policies and central bank. because digicash is capable of being replaced by bank notes and the coins, it is possible that digicash gradually takes the place of the central bank money an...