Chapter 17: Made to measure: how central banks deliver performances of their worth and why unconventional monetary policy is reversing the burden of proof

• Main Author: Walter, Timo (auth)
• Format: Electronic Book Chapter
• Language: English
• Published: Cheltenham, UK Edward Elgar Publishing 2024
• Subjects: JPH; Central banks; Monetary policy; Inflation targeting; Scientization; Financialization; De-politicization
• Online Access: DOAB: download the publication; DOAB: description of the publication

Central banking is frequently considered a prototype case of governance subject to continuous and public performance measurement. However, central banks' near-exclusive preoccupation with preserving price stability as the overriding measure of success of their monetary policy is a rather recent...