A model of partisan central banks and opportunistic political business cycles

1997 ◽  
Vol 13 (3) ◽  
pp. 503-516 ◽  
Author(s):  
Gernot Sieg
Keyword(s):  
Business Cycles ◽  
Central Banks ◽  
Political Business Cycles

scholarly journals International and Domestic Constraints on Political Business Cycles in OECD Economies: A Comment

2002 ◽  
Vol 56 (1) ◽  
pp. 209-221 ◽  
Author(s):  
Erik Leertouwer ◽  
Philipp Maier
Keyword(s):  
Monetary Policy ◽  
Business Cycles ◽  
Central Banks ◽  
Short Term ◽  
Rate System ◽  
Political Business Cycles ◽  
Panel Model ◽  
Domestic Constraints ◽  
Exchange Rate System ◽  
Effect Of Monetary Policy

We attempt to assess the effect of monetary policy in a panel model for 16 member countries of the Organization for Economic Cooperation and Development (OECD). To answer the question of whether central banks actively create political business cycles, we focus on the short-term interest rate as a proxy for the use of monetary instruments. Our results indicate that central banks do not create political business cycles. This conclusion holds whether or not central banks are independent and whether or not they are constrained by the exchange-rate system in force.

scholarly journals Development of banking sectors in Kosovo and Montenegro in the years 2000-2010

2012 ◽  
Vol 3 (3) ◽  
pp. 79-101
Author(s):  
Katarzyna Kubiszewska
Keyword(s):  
Business Cycles ◽  
Market Economy ◽  
Financial Institutions ◽  
Central Banks ◽  
Recent History ◽  
Stages Of Development ◽  
Planned Economy ◽  
Banking Markets ◽  
Balkan Countries ◽  
The Future

The article presents main aspects of the development of banking markets in two Balkan countries – Kosovo and Montenegro. Both of them are charaterised by similar recent history, both in political and economical fields. Their financial sectors had to be built almost from scratch. The author describes the stages of development of competition in the banking sectors, using the following ratios: performace, structure, liquidity. The data is based on the information achieved from Kosovar and Montenegral central banks. Comparison of their achievements are presented on the pentagon adopted from macroeconomy stability pentagon, introduced in Poland by Institute for Market, Consumption and Business Cycles Research. The long way from centrally planned economy to market economy, in both countries, in both political and financial aspects has resulted in a successful transformation. The growing economic strength in Kosovo and Montenegro will allow their financial institutions to improve their performance and expand their activities in the future.

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