Does an Independent Central Bank Smooth Exchange Rate Volatility? Evidence from Time-Varying Panel Causality Analysis

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dc.contributor.authorYildirim, Durmus Cagri
dc.contributor.authorEsen, Oemer
dc.contributor.authorCinar, Ugur
dc.date.accessioned2024-10-29T17:59:03Z
dc.date.available2024-10-29T17:59:03Z
dc.date.issued2024
dc.departmentTekirdağ Namık Kemal Üniversitesi
dc.description.abstractThis paper empirically examines the effect of the central banks independence on exchange rate volatility by using a large data-set for the E7 (7 emerging countries) covering the period 1998-2017. This paper applies the time-varying panel causality analysis to obtain country-based results. The results show that the policy design, with relatively independent central banks, provides supportive results for macroeconomic stability. It is concluded that policies focusing on current problems by ignoring macroeconomic stability, such as the 2008 crisis, have eliminated the relationship between bank independence and stability.
dc.identifier.doi10.2478/jcbtp-2024-0028
dc.identifier.endpage244
dc.identifier.issn1800-9581
dc.identifier.issn2336-9205
dc.identifier.issue2en_US
dc.identifier.startpage219
dc.identifier.urihttps://doi.org/10.2478/jcbtp-2024-0028
dc.identifier.urihttps://hdl.handle.net/20.500.11776/14607
dc.identifier.volume13
dc.identifier.wosWOS:001316684300007
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.language.isoen
dc.publisherSciendo
dc.relation.ispartofJournal of Central Banking Theory and Practice
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectTime-varying panel causality analysis
dc.subjectE7 countries
dc.subjectCentral Bank
dc.subjectMonetary Policy Strategy
dc.subjectC33
dc.subjectE58
dc.subjectF31
dc.titleDoes an Independent Central Bank Smooth Exchange Rate Volatility? Evidence from Time-Varying Panel Causality Analysis
dc.typeArticle

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