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Full-Text Articles in Finance and Financial Management
Lessons Learned: Frederic Mishkin, Matthew A. Lieber
Lessons Learned: Frederic Mishkin, Matthew A. Lieber
Journal of Financial Crises
Rick Mishkin served as a member of the Board of Governors of the Federal Reserve System from 2006 to 2008 and as director of research at the Federal Reserve Bank of New York from 1994 to 1997. A leading expert on monetary economics and financial markets and a professor at Columbia University’s School of Business since 1983, Mishkin has written 20 books, including the textbook The Economics of Money, Banking, and Financial Markets. This Lessons Learned is based on an interview with Mishkin conducted on October 20, 2020.
Central Bank Independence: An Examination Of Monetary And Economic Stability Through Ordinary And Extraordinary Times, Carroll Griffin, Yun Cheng
Central Bank Independence: An Examination Of Monetary And Economic Stability Through Ordinary And Extraordinary Times, Carroll Griffin, Yun Cheng
Southern University College of Business E-Journal
The idea of central bank independence (CBI) has been widely accepted over the last several decades by many countries around the world, both developed and developing. As such, many countries around the world granted autonomy to their central banks during the 1980s and 1990s. Although the majority of past studies have primarily examined the impact of central bank independence on inflation, there is only now sufficient date to empirically determine whether many of these claims are true. This study examines central bank independence over the long-term (1960 to 2015) to determine to what extent central bank independence has helped to …
Emerging Economies, Turnover Rates And Inflation Variability: A Comparison Of Generalized Maximum Likelihood And Sur Models, Hermann Sintim-Aboagye
Emerging Economies, Turnover Rates And Inflation Variability: A Comparison Of Generalized Maximum Likelihood And Sur Models, Hermann Sintim-Aboagye
Department of Accounting and Finance Faculty Scholarship and Creative Works
Theoretical exposition and empirical evidence in central bank independence (CBI) literature confirm an inverse relationship between inflation and measures of CBI mostly in developed economies. Based on this ex ante information on CBI-inflation tradeoff, this paper proposes two functional forms for the diagonal and off diagonal elements in the residual covariance matrix in the estimation process. The proposed functional forms are used in a generalized maximum likelihood and then in a generalized least squares (GLS) (with the restricted covariance matrix) framework for the empirical test. The results are compared to the outcome of an SUR model (unrestricted). The tests involve …