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Central bank reforms and institutions / Oana Peia, Davide Romelli

Peia, Oana, 1987-; Romelli, Davide, 1984-, co-autor

IFO DICE Report . ISSN2511-7823 . Munich : IFO Institut, Vol. 17, no 1 (2019) , p. 30-35

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Prior to the global financial crisis, there had been much agreement about the optimal institutional design of monetary policy authorities. Economists and policy observers alike would have acknowledged that monetary policy is best left in the hands of independent central banks with a clear mandate of price stability. These inflation-targeting central banks were seen as the solution to the problem of high inflation and were credited with the period of great moderation that saw low levels of inflation and moderate output fluctuations (Alesina and Stella 2010). [Da obra]

atividade bancária; controlo bancário; banco central; política financeira

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