Is ECB Independence at Risk?

During the Great Moderation, central banks focused on price stability, and independence was seen as crucial to limit inflation bias. Since the Global Financial Crisis, emergency support measures for banks, and central banks’ increasing involvement in supervision, have called central bank independence into question. This column argues that the literature has overlooked the distributional effects [...] View the full post at: Is ECB Independence at Risk? Related posts: Bernanke Warns Congress Not to Limit the Central Bank’s Independence Smackdown Week: The Biggest Risk is Fed Independence When Independence Begets Accountability