Titlebook: Understanding Central Banks; Nils Herger Book 2019 Springer Nature Switzerland AG 2019 Central banking.Monetary policy.Financial crises.In

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Central-Bank Independence,emedy against high inflation. Reasons why independent central banks produce less inflation include their autonomy from political pressure to finance public expenditure via printing money, and their ability to consider the long-term effects of loose monetary policy.

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The Initial and Final Effects of Monetary Policy on Inflation, Output, and (Un)employment,ring which economic conditions, such as prices, can react flexibly and, thus, the neutrality property of money holds—and the short-term—during which monetary policy affects the business cycle and employment via the so-called ‘monetary-policy transmission mechanisms’.

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Central-Bank Independence,emedy against high inflation. Reasons why independent central banks produce less inflation include their autonomy from political pressure to finance public expenditure via printing money, and their ability to consider the long-term effects of loose monetary policy.

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Book 2019l bank is bailed out, they become the focus of the policy debate. But what role do central banks play in a modern economy? How do central banks wield influence over the financial system and the broad economy? Through which channels does monetary policy impact macroeconomic fundamentals such as infla

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rical development and the effects of montary policy in an inIssues related to central banks feature regularly in economic news coverage, and in times of economic or financial crisis, especially when a commercial bank is bailed out, they become the focus of the policy debate. But what role do central