Inflation Targeting: Theory and Policy Implications

Rules Rather than Discretion: The Inconsistency of Optimal Plans

Finn E. Kydland, Edward C. Prescott · Journal of Political Economy · 1977 · 7.9K citations

Social Sciences, Economics, Public Policy +15

Rules, discretion and reputation in a model of monetary policy

Robert J. Barro, D. Benjamin Gordon · Journal of Monetary Economics · 1983 · 3.6K citations

Social Sciences, Economics, Macroeconomics +16

Optimal contracts for central bankers

Carl E. Walsh · American Economic Review · 1995 · 1.1K citations

Business, Economics, Agency Theory +16

Two Fallacies Concerning Central Bank Independence

Bennett T. McCallum · American Economic Review · 1995 · 289 citations

Social Sciences, Economics, Banking +8

Central-Bank Independence Revisited

Stanley Fischer · American Economic Review · 1995 · 238 citations

Social Sciences, Economics, Public Finance +9