G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3685
DP3685 The Shape of Hiring and Separation Costs
francis kramarz; Marie-Laure Michaud
发表日期2003-01-28
出版年2003
语种英语
摘要The translation of legal independence into actual independence is primarily determined by the rule of law. Inspired by the economic growth literature, where the role of institutions already is incorporated, we introduce Institutional Quality Indicators that can be used as reasonable proxies for the rule of law in a country. This idea can be seen as an important extension of the existing empirical research about the relationship between inflation and the institutional design of monetary institutions. With the rule of law factor we will get a better expression of effective central bank independence. Transition economies like former socialist economies in Europe are interesting candidates for the examination of the relationship between the rate of inflation, central bank reforms and the transition process. Legal Transition Indicators will be used as proxy for the rule of law in these countries. The liberalization process seems to be an important condition for the effectiveness of legal central bank independence. With the Cumulative Liberalization Index we incorporate the liberalization process into our analysis.
主题International Macroeconomics
关键词Central banks Legal independence Transition economies inflation Reform
URLhttps://cepr.org/publications/dp3685
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/532713
推荐引用方式
GB/T 7714
francis kramarz,Marie-Laure Michaud. DP3685 The Shape of Hiring and Separation Costs. 2003.
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