1. Introduction
- Author
-
Francesco Papadia and Tuomas Vӓlimӓki
- Abstract
Fundamental questions about the optimal set-up for central banks are examined in this book. In particular, we ask whether the model of an independent central bank devoted to price stability,1 which affirmed itself in most advanced economies at the turn of the last century, is the final resting point of a long and complex development that started centuries ago. We dissect the hypothesis that the Great Recession has prompted a reassessment and a possible revision of that model....
- Published
- 2018