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Central Bank Independence and Macro-Prudential Regulation
16 references·7 citing·42 second hop
Central Bank Independence and Macro-Prudential Regulation (2012)Central Bank Independence and Macro-Prude…Inflation Targeting and Financial Stability (2012)Inflation Targeting and Finan…Managing Credit Booms and Busts: A Pigouvian Taxation Approach (2010)Managing Credit Booms and Bus…Financial Intermediation and Credit Policy in Business Cycle Analysis (2010)Financial Intermediation and …Credit Frictions and Optimal Monetary Policy (2009)Credit Frictions and Optimal …Optimal interest rate rules, asset prices, and credit frictions (2007)Optimal interest rate rules, …New Evidence on the Lending Channel (2006)New Evidence on the Lending C…Consequences of Bank Distress During the Great Depression (2003)Consequences of Bank Distress…Monetary–fiscal policy interactions and commitment versus discretion in a monetary union (2001)Monetary–fiscal policy intera…Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States (2000)Collateral Damage: Effects of…Chapter 21 The financial accelerator in a quantitative business cycle framework (1999)Chapter 21 The financial acce…The Financial Accelerator in a Quantitative Business Cycle Framework (1998)The Financial Accelerator in …Optimal fiscal and monetary policy in an economy without capital (1983)Optimal fiscal and monetary p…A Positive Theory of Monetary Policy in a Natural Rate Model (1983)A Positive Theory of Monetary…A Positive Theory of Monetary Policy in a Natural-Rate Model (1981)A Positive Theory of Monetary…On the Time Consistency of Optimal Policy in a Monetary Economy (1978)On the Time Consistency of Op…Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977)Rules Rather than Discretion:…Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021) (2021)Independence, conservatism, a…Financial supervision structure, decentralized decision-making and financing constraints (2020)Financial supervision structu…Does central bank independence affect stock market volatility? 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(2013)The central banker as prudent…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Science of Monetary Policy: A New Keynesian Perspective (1999)An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area (2003)Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy (2005)Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach (2007)Capital regulation, risk-taking and monetary policy: A missing link in the transmission mechanism? (2011)Credit Spreads and Business Cycle Fluctuations (2012)A Macroeconomic Model with a Financial Sector (2014)The Efficiency of the Market for Single-Family Homes (1988)The Credit Crunch (1991)Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance (1992)Rethinking Bank Regulation: Till Angels Govern (2005)Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan (2005)Banking Globalization and Monetary Transmission (2012)Credit Rationing in Markets with Imperfect Information (1981)Financing Constraints and Corporate Investment (1988)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy (2002)Bank Integration and State Business Cycles (2004)Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Originations (2009)An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money (1958)Myopia and Inconsistency in Dynamic Utility Maximization (1973)A Guide to Public Sector Debt and Deficits (1985)Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661. (1989)A Toolkit for Analysing Nonlinear Dynamic Stochastic Models Easily (2001)Myopia and Inconsistency in Dynamic Utility Maximization (1955)A Positive Theory of Fiscal Deficits and Government Debt (1990)Monetary Theory and Policy (1999)A Unified Framework for Monetary Theory and Policy Analysis (2005)Rational Expectations and the Theory of Price Movements (1961)Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment (1973)Equilibria under ‘active’ and ‘passive’ monetary and fiscal policies (1991)Decision Making in Political Systems: Veto Players in Presidentialism, Parliamentarism, Multicameralism and Multipartyism (1995)Veto Players. How Political Institutions Work (2003)Some International Evidence on Output-Inflation Tradeoffs. (1973)"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)Rules, discretion and reputation in a model of monetary policy (1983)The Optimal Degree of Commitment to an Intermediate Monetary Target (1985)House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle (2005)Varieties of Capitalism (2001)
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References

  • 1977Rules Rather than Discretion: The Inconsistency of Optimal Plans7,896 cited
  • 1998The Financial Accelerator in a Quantitative Business Cycle Framework4,624 cited
  • 1999Chapter 21 The financial accelerator in a quantitative business cycle framework3,549 cited
  • 1983A Positive Theory of Monetary Policy in a Natural Rate Model2,212 cited
  • 1981A Positive Theory of Monetary Policy in a Natural-Rate Model2,177 cited
  • 2010Financial Intermediation and Credit Policy in Business Cycle Analysis1,986 cited
  • 1983Optimal fiscal and monetary policy in an economy without capital1,877 cited
  • 2000Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States1,189 cited
  • 1978On the Time Consistency of Optimal Policy in a Monetary Economy807 cited
  • 2006New Evidence on the Lending Channel492 cited
  • 2003Consequences of Bank Distress During the Great Depression443 cited
  • 2012Inflation Targeting and Financial Stability371 cited
  • 2010Managing Credit Booms and Busts: A Pigouvian Taxation Approach367 cited
  • 2009Credit Frictions and Optimal Monetary Policy363 cited
  • 2001Monetary–fiscal policy interactions and commitment versus discretion in a monetary union

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320 cited
  • 2007Optimal interest rate rules, asset prices, and credit frictions298 cited
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    • 2013The central banker as prudential supervisor: Does independence matter?43 cited
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    • 2017Does central bank independence affect stock market volatility?27 cited
    • 2021Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)19 cited
    • 2015Ups and Downs. Central Bank Independence from the Great Inflation to the Great Recession: Theory, Institutions and Empirics16 cited