In some countries, the government chooses the head of the central bank. The same government can fire
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In some countries, the government chooses the head of the central bank. The same government can fire the head of the central bank and replace him at any time. Explain the implications of such a situation for the conduct of monetary policy. Do you think the central bank will follow a monetary policy rule, or engage in discretionary policy?
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When the government has the authority to nominate or lay off the head of the central b...View the full answer
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Related Book For 
The Economics of Money Banking and Financial Markets
ISBN: 978-0321785701
5th Canadian edition
Authors: Frederic S. Mishkin, Apostolos Serletis
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