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  • Influence
CENTRAL BANK STRATEGY, CREDIBILITY, AND INDEPENDANCE: THEORY AND EVIDENCE
Alex Cukierman is well known for his work on central bank behavior. This book brings together a large body of Cukierman's research and integrates it with recent developments in the political economyExpand
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Measuring the Independence of Central Banks and Its Effect on Policy Outcomes
Making the central bank an agency with the mandate and reputation for maintaining price stability is a means by which a government can choose the strength of its commitment to price stability. ThisExpand
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Nonlinear Taylor Rules and Asymmetric Preferences in Central Banking: Evidence from the United Kingdom and the United States
This paper explores theoretically and empirically the view that Taylor rules are often nonlinear due to asymmetric central bank preferences, and that the nature of these asymmetries changes acrossExpand
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The Politics of Ambiguity
Politicians have generally two motives: they wish to hold office as long as possible and wish to implement their preferred policies. Thus they face a trade-off between the policies which maximizeExpand
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Central Bank Reform, Liberalization and Inflation in Transition Economies - an International Perspective
This Paper develops extensive new indices of legal independence (Central Bank Independence, or CBI) for new central banks in 26 former socialist economies (FSEs). The indices reveal that central bankExpand
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The Inflation Bias Revisited: Theory and Some International Evidence
The Kydland-Prescott, Barro-Gordon inflation bias result relies on the presumption that policymakers aim at achieving a level of employment above potential. Both academics and policymakers haveExpand
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Labor Markets and Monetary Union: a Strategic Analysis
This paper shows that the effects of a monetary union depend on several labour market features. In particular, the switch from national monetary policies to a common monetary policy usually affectsExpand
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The Effects of Uncertainty on Investment under Risk Neutrality with Endogenous Information
  • A. Cukierman
  • Economics
  • Journal of Political Economy
  • 1 June 1980
Using a Bayesian framework, this paper considers a risk-neutral firm which has to pick an investment project out of many that are available. It is shown that, if the firm is allowed to collectExpand
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Economic Performance and Stabilization Policy in a Monetary Union with Imperfect Labour and Goods Markets
This Paper develops a framework for the analysis of the effects of institutions on economic performance in a monetary union in the presence of stabilization policy, unionized labour markets andExpand
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