July 5, 2022
Central bank independence faces heightened scrutiny today, with scholars and policy experts—including several in this roundtable—questioning its desirability and legitimacy. But even its critics tend to take its legality for granted.
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L. Menand, The Legality of Central Bank Independence in the United States”
Category: Central Bank
Spring 2021 - Reassessing Central Bank Independence
Spring 2021 - Reassessing Central Bank Independence
R. Lastra and S. Dietz, Communication in Monetary Policy
May 25, 2022
Accountability is a critical corollary of central bank independence. And communication is a necessary component of accountability. A central bank that does not communicate sufficiently with political leaders, markets and the public will not be able to justify its independence from political institutions over time.
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R. Lastra and S. Dietz, Communication in Monetary Policy”
Spring 2021 - Reassessing Central Bank Independence
G. Epstein, Democratic Money: Central Bank Independence vs. Contested Control (Part 2)
August 17, 2021
Gerald Epstein, University of Massachusetts Amherst
As I argued in Part One, with both its monetary and regulatory policy, the Federal Reserve has often been biased toward helping the financial sector.
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G. Epstein, Democratic Money: Central Bank Independence vs. Contested Control (Part 2)”
Spring 2021 - Reassessing Central Bank Independence
G. Epstein, Democratic Money: Central Bank Independence vs. Contested Control (Part 1)
August 10, 2021
Gerald Epstein, University of Massachusetts Amherst
The US Constitution calls for three branches of government that are independent from one another and that can act as “checks and balances” on each other: The Executive, Congress and the Judiciary.
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G. Epstein, Democratic Money: Central Bank Independence vs. Contested Control (Part 1)”
Spring 2021 - Reassessing Central Bank Independence
D. Rohde, Central Bank Independence & Commercial Bank Independence: Are We Asking the Right Questions?
August 3, 2021
Dan Rohde, Harvard Law School
Discussions of central bank independence often have an historical bent, even when not specifically addressing historical issues.
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D. Rohde, Central Bank Independence & Commercial Bank Independence: Are We Asking the Right Questions?”
Spring 2021 - Reassessing Central Bank Independence
S. Eich, Independence from What?
July 20, 2021
Stefan Eich, Georgetown University
The idea of central bank independence is today in crisis. The reason is not—as its own logic would have it—that prying politicians have managed to impose their wills after all.
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S. Eich, Independence from What?”
Spring 2021 - Reassessing Central Bank Independence
R. Hockett, Two Blades, One Scissors: Central Bank Independence with (Some) Central Bank Allocation
July 14, 2021
Robert Hockett, Cornell Law School
Just Money has arranged yet another timely and well-framed symposium. I could not be more delighted to take part. I’d like here to highlight the bearing on this season’s symposium topic
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R. Hockett, Two Blades, One Scissors: Central Bank Independence with (Some) Central Bank Allocation”
Spring 2021 - Reassessing Central Bank Independence
R. Carrillo, Boots on the Rails: The National Security State, Racial Subordination, & the Myth of “Instrument Independence”
July 6, 2021
Raul Carillo, LPE Project & Yale Law School
Since at least the early 1990s, when discussing the administrative, operational, and technical properties of central bank independence (CBI), many economists, including former Federal Reserve Board (Board) Governor and MIT economist Laurence Mayer,
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R. Carrillo, Boots on the Rails: The National Security State, Racial Subordination, & the Myth of “Instrument Independence””
Spring 2021 - Reassessing Central Bank Independence
C. Skinner, Independence: Executive Pressure and Central Bank Activism
May 29, 2021
Christina Parajon Skinner, University of Pennsylvania - The Wharton School
It’s now fashionable in some quarters to view central bank independence as quaint and out-of-date.
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C. Skinner, Independence: Executive Pressure and Central Bank Activism”