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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP3685 |
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 |
URL | https://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. |
条目包含的文件 | 条目无相关文件。 |
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