Chile paper on central bank independence

The Central Bank of Chile Working Paper "Central bank independence and monetary policymaking institutions: Past, present, and future" published April 2006 reviews the institutional changes that occurred over the last two decades in the area of central bank autonomy.

In the past, central banks were expected-by law, custom, or both-to use their policy instruments to attain a multitude of objectives, such as high levels of growth and employment, provision of funds to the government, and resolution

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