We build on our earlier model of money in which bank liabilities circulate as a medium of exchange. We investigate optimal bank behavior and the resulting provision of liquidity under a range of central bank regulations. ...

 This paper evaluates the link between central bank independence and inflation for the case of Colombia. It develops a theoretical framework concerning central bank independence and inflation. It concludes that central ...

"In response to the current global crisis, the U.S. Federal Reserve and other central banks around the world have implemented diverse policy measures, including purchasing a wide range of securities, lending to financial ...

This paper builds on earlier studies of central bank independence (CBI);, making a comparison of the rankings of central banks for 15 countries through three different indices. The analysis reveals that there is no ...

Central banks that work under an inflation-targeting regime generally use an interest rate as the main instrument to implement monetary policy. The latter can be denominated conventional monetary policy. Central banks often ...