IRIS PubliCatt
PubliCatt è il repository istituzionale ad accesso aperto dell'Università Cattolica del Sacro Cuore, dove gli utenti autorizzati afferenti all'Ateneo provvedono direttamente e autonomamente a depositare e a rendere visibili le proprie pubblicazioni, inserendo i dati descrittivi del documento stesso ("metadati", quali il titolo, autore, abstract, etc.) e, laddove possibile, il testo della pubblicazione stessa (full-text).
PubliCatt utilizza la piattaforma IRIS (Institutional Research Information System) sviluppata da CINECA.
EnglishIn this paper we estimate a model where inflation, a measure of de facto central bank independence and an index of de facto exchange rate regime are simultaneously determined by a set of economic, political and institutional variables. De facto central bank independence is hampered by socio-political turbulence and benefits from the balance of powers between the executive and the parliament. Inflation is explained by de facto central bank independence, by the level and volatility of public expenditure and by the de facto exchange rate regime. Openness (real and financial) affects inflation through the exchange rate regime channel. Success in controlling inflation, in turn is crucial to sustain central bank independence and exchange rate stability.
Carmignani, F., Colombo, E., Tirelli, P., Economic and Socio-Political Determinants of de Facto Monetary Institutions and Inflationary Outcomes, <<THE B.E. JOURNAL OF MACROECONOMICS>>, 2008; 8 (1): 1-18. [doi:10.2202/1935-1690.1591] [http://hdl.handle.net/10807/100228]
| Autori: | |
| Titolo: | Economic and Socio-Political Determinants of de Facto Monetary Institutions and Inflationary Outcomes |
| Digital Object Identifier (DOI): | http://dx.doi.org/10.2202/1935-1690.1591 |
| Data di pubblicazione: | 2008 |
| Abstract: | In this paper we estimate a model where inflation, a measure of de facto central bank independence and an index of de facto exchange rate regime are simultaneously determined by a set of economic, political and institutional variables. De facto central bank independence is hampered by socio-political turbulence and benefits from the balance of powers between the executive and the parliament. Inflation is explained by de facto central bank independence, by the level and volatility of public expenditure and by the de facto exchange rate regime. Openness (real and financial) affects inflation through the exchange rate regime channel. Success in controlling inflation, in turn is crucial to sustain central bank independence and exchange rate stability. |
| Lingua: | Inglese |
| Rivista: | |
| Citazione: | Carmignani, F., Colombo, E., Tirelli, P., Economic and Socio-Political Determinants of de Facto Monetary Institutions and Inflationary Outcomes, <<THE B.E. JOURNAL OF MACROECONOMICS>>, 2008; 8 (1): 1-18. [doi:10.2202/1935-1690.1591] [http://hdl.handle.net/10807/100228] |
| Appare nelle tipologie: | Articolo in rivista, Nota a sentenza |
File in questo prodotto:
http://hdl.handle.net/10807/100228
Copyright © 2020