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CENTRAL BANK STRATEGY, CREDIBILITY, AND INDEPENDANCE: THEORY AND EVIDENCE
- A. Cukierman
- Economics
- 13 November 1992
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 economy…
Measuring the Independence of Central Banks and Its Effect on Policy Outcomes
- A. Cukierman
- Economics
- 1 September 1992
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. This…
A Theory of Ambiguity, Credibility, and Inflation under Discretion and Asymmetric Information
- A. Cukierman, A. Meltzer
- Economics
- 1 September 1986
This paper develops a positive theory of credibility, ambiguity, and inflation under discretion and asymmetric information. The monetary policymaker maximizes his own (politically motivated)…
Seigniorage and Political Instability
- A. Cukierman, S. Edwards, G. Tabellini
- Economics
- 1 December 1989
The importance of seignorage relative to other sources of government revenue differs markedly across countries. The main theoretical implication of this paper is that countries with more unstable and…
The Politics of Ambiguity
- A. Alesina, A. Cukierman
- Economics
- 1 December 1987
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 maximize…
Central Bank Independence, Centralization of Wage Bargaining, Inflation and Unemployment - Theory and Some Evidence
- A. Cukierman, A. Cukierman, F. Lippi
- Economics
- 1 June 1999
Nonlinear Taylor Rules and Asymmetric Preferences in Central Banking: Evidence from the United Kingdom and the United States
- A. Cukierman, A. Muscatelli
- Economics
- 25 February 2008
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 across…
Accountability, Credibility, Transparency and Stabilization Policy in the Eurosystem
- A. Cukierman
- Economics
- 2000
This paper surveys and evaluates alternative views regarding the desirable combination of accountability, credibility and trasnparency in the newly created ECB (European Central Bank), including…
When Does It Take a Nixon to Go to China
- A. Cukierman, M. Tommasi
- Economics, Political Science
- 1997
Substantial policy changes, like market-oriented reforms by populist parties and steps towards peace by 'hawks,' are sometimes implemented by 'unlikely' parties. To account for such episodes, this…
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