DISCUSS THE MERITS AND DRAWBACKS ASSOCIATED WITH AN INDEPENDENT CENTRAL BANK?

 

 

Describe the advantages and disadvantages of having an independent central bank.

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Describe the advantages and disadvantages of having an independent central bank.

no more than 1800 words

Cite scholarly journal articles and economic theory where necessary to substantiate your arguments.

Make an effort to connect with what the module is teaching.
What is covered in the lecture? A review of macro theory and empirical evidence on money, prices, and output is covered in Lecture 1.
Lecture 2: Applying DSGE models to monetary policy
The topics of monetary policy analysis in new Keynesian models, nominal rigidities, monopolistic competition, and the new Keynesian model are covered in lectures three and four.
Lecture 5: A free market and monetary unions
Independent Central Banks (LESSONS 6-7) Commitment vs. Discretion in the Barro-Gordon Model
Targeting Inflation in Lesson Eight
Lecture 9: The Financial Crisis and Macroprudential Policy Lecture 10: Quantitative Easing and Money Supply

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