Decision Quality and Policy Performance of Central Bank

Abstract

In this thesis we aim to examine whether good decision quality help to improve the central bank's policy performance As there exists no accurate measure of decision quality we propose to use the research of central bank as a proxy of decision quality Also we use inflation as a measure of policy performance Using pooled OLS regression model we have found a positive relationship between the central bank's policy performance and its research capability which is measured by the pages of working papers However under fixed-effect models the effect of the central bank's research capability on the policy performance becomes insignificant From empirical results the relationship between central bank's decision quality and its policy performance is uncertainty Maybe some factors can represent central bank's decision quality more appropriate How to measure the central bank's decision quality will be an issue that can be extended in the future

Date of Award	2019
Original language	English
Supervisor	Tzu-Yu Lin (Supervisor)