Central banks: Hesitant guardians of equilibrium

Jerzy Hausner; Andrzej Sławiński

doi:10.1556/032.2018.68.s.10

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Acta Oeconomica

Volume/Issue:: Volume 68: Issue s1

Central banks: Hesitant guardians of equilibrium

Authors:

Jerzy Hausner

Jerzy Hausner Professor at Cracow University of Economics

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hausner@uek.krakow.pl

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Andrzej Sławiński

Andrzej Sławiński Professor at Warsaw School of Economics

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aslawi@sgh.waw.pl

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Pages:: 125–139

Online Publication Date:: Jan 2018

Publication Date:: 01 Jan 2018

Article Category:: Journal Article

DOI:: https://doi.org/10.1556/032.2018.68.s.10

Keywords:: monetary policy; financial stability; equilibrium; E44; E52; E66

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In our paper we focus on situations when central banks have to conduct monetary policy in a world in which they cannot rely fully on what is regarded the best practice and they have to cope with financial system inherent tendency to be unstable. Both phenomena are rooted in János Kornai’s intellectual heritage highlighting that economy tends to divert from equilibrium and that soft budget constraint erodes economic actors’ behavior.

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Acta Oeconomica Periodical of the Hungarian Academy of Sciences

Print ISSN:: 0001-6373

Online ISSN:: 1588-2659

Associate Editors

Péter Benczúr, Joint Joint Research Center, European Commission
Dóra Benedek, International Monetary Fund
Balázs Égert, OECD
Dániel Prinz, World Bank
Rok Spruk, University of Ljubljana, School of Economics and Business, Slovenia

Editorial Board

Anders Åslund, Georgetown University and Advisory Council of CASE, USA
István Benczes, Corvinus University of Budapest, Hungary
Agnieszka Chłoń-Domińczak, SGH Warsaw School of Economics, Poland
Fabrizio Coricelli, University of Siena, Italy
László Csaba, Corvinus University of Budapest, Hungary and Central European University, Austria
Beáta Farkas, Faculty of Economics and Business Administration, University of Szeged, Hungary
Péter Halmai, Budapest University of Technology and Economics, and National University of Public Service, Hungary
Martin Kahanec, Central European University, Austria
David Kemme, University of Memphis, USA
Michael Landesmann, The Vienna Institute for International Economic Studies (WIIW), Austria
Péter Mihályi, Corvinus University of Budapest, Hungary
Debora Revoltella, European Investment Bank

Corvinus University of Budapest
Department of Economics
Fővám tér 8 Budapest, H-1093, Hungary
E-mail: judit.kalman@uni-corvinus.hu

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2024
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SJR index	0.201
SJR Q rank	Q3

2023
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Journal Impact Factor	0.7
Rank by Impact Factor	Q3 (Economics)
Journal Citation Indicator	0.23
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CiteScore	1.4
CiteScore rank	Q3 (Economics and Econometrics)
SNIP	0.385
Scimago
SJR index	0.218
SJR Q rank	Q4

Acta Oeconomica
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Acta Oeconomica
Language	English
Size	B5
Year of Foundation	1966
Volumes per Year	1
Issues per Year	4
Founder	Magyar Tudományos Akadémia
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ISSN	0001-6373 (Print)
ISSN	1588-2659 (Online)