Modern mainstream economics is attracting an increasing number of critics of its high
degree of abstraction and lack of relevance to economic reality. Economists are calling for a …

This fully revised second edition of Bain and Howells' Monetary Economics provides an up-
to-date examination of monetary policy as it is practised and the theory underlying it. The …

Central banks are powerful but poorly understood organisations. In 1900 the Bank of Japan
was the only central bank to exist outside Europe but over the past century central banking …

In this article, I examine the bias in favour of financial markets displayed by the European
Central Bank (ECB) during the Eurozone crisis. Having analysed the roots of the ECB's bias …

A new international data set covering over 100 countries for the period 1990–2004 is used
to investigate the relationship between central bank independence (CBI) and inflation. CBI is …

So complete is the consensus which now exists over the desirability of central bank
independence that it is possible to forget how quickly it emerged. Yet it was only in 1988 that …

This paper challenges the time-inconsistency case for central bank independence. It argues
that the time-inconsistency literature not only seriously confuses the substance of the rules …

The case for central bank independence is built on an intellectual two-step. Step one argues
there is a problem of inflation prone government. Step two argues independence is the …

Records management and archival theory recommends that records classification, as a
means to identify and organize the records made or received in the course of business …

Until a few years ago, Central Banks were regarded as an integral part of the Government's
central policy-making machine. The phrase,'the Monetary Authorities', was coined and used …