全球智库信息集成服务系统(G2TT): DP6907 Optimal Monetary Policy in an Operational Medium-Sized DSGE Model

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6907
	DP6907 Optimal Monetary Policy in an Operational Medium-Sized DSGE Model
	Lars E.O. Svensson; Jesper Linde; Malin Adolfson; Stefan Laséen
发表日期	2008-07-11
出版年	2008
语种	英语
摘要	Recent research on central bank governance has focused mainly on their monetary policy task. As the sub-prime loan market turmoil reminded us - central banks play a crucial role in financial markets not only in setting monetary policy, but also in ensuring their soundness and stability. In this paper we study the specific corporate governance structures of a number of central banks in light of their complex role of inflation guardians, bankers? banks, financial industry regulators/supervisors and, in some cases, competition authorities and deposit insurance agencies. We review their current institutional arrangements, e.g. formal objectives, ownership, board and governor appointment rules, term limits and compensation, using both existing surveys and newly collected information; and we contrast them with the structures suggested in the corporate and public governance literatures, where present. Our analysis highlights a striking variety in central bank governance structures and a number of specific issues that appear unsatisfactorily addressed by existing research, including the incentive structure for governor and board members, the balance between central banks? multiple objectives, and the need for term limits or post-employment restrictions.
主题	Financial Economics ; International Macroeconomics
关键词	Governance Accountability Bank regulation Board structure Central bank independence Central banks Cooling-off periods Governor remuneration Regulatory capture Term limits
URL	https://cepr.org/publications/dp6907
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/535743
推荐引用方式 GB/T 7714	Lars E.O. Svensson,Jesper Linde,Malin Adolfson,et al. DP6907 Optimal Monetary Policy in an Operational Medium-Sized DSGE Model. 2008.