How Long to Read Central Bank Independence and Macro-Prudential Regulation

How Long Does it Take to Read Central Bank Independence and Macro-Prudential Regulation?

It takes the average reader and 27 minutes to read Central Bank Independence and Macro-Prudential Regulation by Fabian Valencia

Assuming a reading speed of 250 words per minute. Learn more

Description

We consider the optimality of various institutional arrangements for agencies that conduct macro-prudential regulation and monetary policy. When a central bank is in charge of price and financial stability, a new time inconsistency problem may arise. Ex-ante, the central bank chooses the socially optimal level of inflation. Ex-post, however, the central bank chooses inflation above the social optimum to reduce the real value of private debt. This inefficient outcome arises when macro-prudential policies cannot be adjusted as frequently as monetary. Importantly, this result arises even when the central bank is politically independent. We then consider the role of political pressures in the spirit of Barro and Gordon (1983). We show that if either the macro-prudential regulator or the central bank (or both) are not politically independent, separation of price and financial stability objectives does not deliver the social optimum.

How long is Central Bank Independence and Macro-Prudential Regulation?

Central Bank Independence and Macro-Prudential Regulation by Fabian Valencia is 27 pages long, and a total of 6,939 words.

This makes it 9% the length of the average book. It also has 8% more words than the average book.

How Long Does it Take to Read Central Bank Independence and Macro-Prudential Regulation Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 37 minutes to read Central Bank Independence and Macro-Prudential Regulation aloud.

What Reading Level is Central Bank Independence and Macro-Prudential Regulation?

Central Bank Independence and Macro-Prudential Regulation is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Central Bank Independence and Macro-Prudential Regulation?

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