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Jun 17, 2024 · For many central banks, there is room to improve independence, and the IMF offers tailored tools that are used by central banks worldwide to strengthen independence, and ultimately policy credibility.
- A New Measure of Central Bank Independence - IMF
This paper constructs a new index for measuring de jure...
- Strengthen Central Bank Independence to Protect the ... - IMF
We strongly support central bank independence, providing...
- A New Measure of Central Bank Independence - IMF
Feb 23, 2024 · This paper constructs a new index for measuring de jure central bank independence, the first entirely new index in three decades. The index draws on a comprehensive dataset from the IMF’s Central Bank Legislation Database (CBLD) and Monetary Operations and Instruments Database (MOID) and weightings derived from a survey of 87 respondents ...
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Central Bank Independence Index is a quantifiable measure adopted by economists to assess the extent of independence enjoyed by a central bank. This index plays a pivotal role in macroeconomic studies and comparisons between different economies.
Aug 5, 2022 · what is central bank independence and why does it matter? A central bank is independent if it can make policy, such as setting interest rates or printing money, without interference from...
Feb 23, 2024 · It improves upon existing indices including the Cukierman, Webb, and Neyapti (CWN) index, which has been the de facto standard for measuring central bank independence since 1992, as well as recent extensions by Garriga (2016) and Romelli (2022).
- Tobias Adrian
Mar 21, 2024 · We strongly support central bank independence, providing tailored technical assistance to members working to improve governance and legal frameworks. We make independence an explicit pillar in some Fund-supported financing programs, agreeing with members on actions to measure and achieve it.
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Feb 23, 2024 · ABSTRACT: This paper constructs a new index for measuring de jure central bank independence, the first entirely new index in three decades. The index draws on a comprehensive dataset from the IMF’s Central Bank Legislation Database (CBLD) and Monetary Operations and Instruments Database (MOID) and weightings derived from a survey of 87 ...